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  • Sunoco LP to Purchase Rened Product Terminals from NuStar Energy L.P. and Cato, Incorporated
    édité le 04/08/2021 - Plus de news de "Sunoco LP" - Voir la fiche entreprise de "Sunoco LP"

Sunoco LP to Purchase Rened Product Terminals from NuStar Energy L.P. and Cato, Incorporated
Sunoco LP announced the execution of denitive agreements to acquire eight rened product terminals from NuStar Energy L.P. (NuStar) and one rened product terminal from Cato, Incorporated ("Cato") for a combined purchase price of $255.5 million.

These acquisitions will result in a signicant expansion of SUN's midstream business, enhance its platform for fuel distribution expansion and allow SUN to remain within its long-term leverage and coverage target levels. SUN will continue to employ a disciplined approach toward future acquisitions.

NuStar Acquisition

The NuStar acquisition includes seven rened product terminals on the East Coast and one in the Midwest in the following locations: Andrews Air Force Base, MD; Baltimore, MD; Blue Island, IL; Jacksonville, FL; Linden, NJ; Paulsboro, NJ; Piney Point, MD; and Virginia Beach, VA. The terminals have an aggregate storage capacity of approximately 14.8 million barrels, handle primarily rened products and are accessed via pipeline, truck, rail, and marine vessels.

Cato Acquisition

The Cato terminal is a gasoline and distillate terminal located in Salisbury, MD with approximately 140 thousand barrels of storage and is accessed via truck and marine vessels. As part of the transaction, Cato has agreed to a ve-year extension of its existing SUN fuel distribution contract.

Both acquisitions are expected to close in the fourth quarter of 2021, subject to the satisfaction of customary closing conditions. The Partnership expects the acquisitions to be immediately accretive to unitholders.

About Sunoco LP

Sunoco LP (NYSE: SUN) 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 rened product transportation and terminalling assets. SUN's general partner is owned by Energy Transfer LP (NYSE: ET).

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.

Origine : Communiqué Sunoco LP

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