DALLAS, Oct. 8, 2021 /PRNewswire/ -- Sunoco LP (NYSE:
SUN) ("SUN" or the "Partnership") announced today the completion of
the previously announced acquisition of eight refined products
terminals from NuStar Energy, L.P. (NYSE: NS) for approximately
$250 million. Also, on September 24, 2021 SUN completed the previously
announced acquisition of a refined products terminal from Cato
Incorporated.
The transactions were funded with cash on hand and amounts
available under SUN's revolving credit facility. These accretive
acquisitions significantly expand SUN's midstream business and
enhance its platform for fuel distribution growth.
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 refined product transportation and
terminalling assets. SUN's general partner is owned by Energy
Transfer LP (NYSE: ET).
Forward-Looking Statements
This news release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law. Such forward-looking statements are subject
to a variety of known and unknown risks, uncertainties, and other
factors that are difficult to predict and many of which are beyond
management's control. An extensive list of factors that can affect
future results are discussed in the Partnership's Annual Report on
Form 10-K and other documents filed from time to time with the
Securities and Exchange Commission. In addition to the risks
and uncertainties previously disclosed, the Partnership has also
been, or may in the future be, impacted by new or heightened risks
related to the COVID-19 pandemic and the recent instability in
commodity prices, and we cannot predict the length and ultimate
impact of those risks. The Partnership undertakes no
obligation to update or revise any forward-looking statement to
reflect new information or events.
The information contained in this press release is available on
our website at www.SunocoLP.com
Contacts
Investors:
Scott Grischow, Vice President – Investor
Relations and Treasury
(214) 840-5660, scott.grischow@sunoco.com
James Heckler, Director –
Investor Relations and Corporate Finance
(214) 840-5415, james.heckler@sunoco.com
Media:
Alexis Daniel,
Manager – Communications
(214) 981-0739, alexis.daniel@sunoco.com
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SOURCE Sunoco LP