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  • NuStar Energy L.P. Announces Sale of Eight Terminal Locations to Sunoco LP
    édité le 04/08/2021 - Plus de news de "NuStar Energy" - Voir la fiche entreprise de "NuStar Energy"


NuStar Energy L.P. Announces Sale of Eight Terminal Locations to Sunoco LP
NuStar Energy L.P. announced that it has entered into an agreement to sell its storage terminals in the Northeast and one terminal in Florida to Sunoco LP for $250 million. There are eight terminal locations included in the sale: Andrews AFB in Washington, D.C.; Baltimore, MD; Blue Island, IL; Jacksonville, FL; Linden, NJ; Paulsboro, NJ; Piney Point, MD; and Virginia Beach, VA. The sale is expected to close by the beginning of the fourth quarter of 2021, subject to the satisfaction of customary closing conditions.

“While these terminals are solid assets with great operations and employees, these facilities are no longer synergistic with NuStar’s core assets, which, in the current competitive climate is critical to their long-term success,” said Brad Barron, president and CEO of NuStar. “Sunoco LP has assets in NY Harbor and in the Southeast U.S. that should provide such synergistic opportunities to ensure the continued success of these facilities and employees.

“This divestiture will allow us to deploy the proceeds to further improve our debt metrics, and we continue to expect to self-fund our spending from our internally generated cash flows, in 2021 and beyond,” Barron added.

Barclays served as exclusive financial adviser to NuStar on the transaction.

About NuStar Energy L.P.

NuStar Energy L.P. (NYSE: NS), a publicly traded master limited partnership based in San Antonio, is one of the largest independent liquids terminal and pipeline operators in the nation. NuStar currently has approximately 10,000 miles of pipeline and 73 terminal and storage facilities that store and distribute crude oil, refined products, renewable fuels and specialty liquids. The partnership’s combined system has approximately 72 million barrels of storage capacity, and NuStar has operations in the United States, Canada and Mexico.

About Sunoco LP

Sunoco LP is a master limited partnership with core operations that include the distribution of motor fuel to approximately 10,000 convenience stores, independent dealers, commercial customers and distributors located in more than 30 states as well as refined product transportation and terminalling assets. Sunoco's general partner is owned by Energy Transfer LP.


Origine : Communiqué NuStar Energy

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