DALLAS, Nov. 15, 2018 /PRNewswire/ -- Sunoco LP (NYSE:
SUN) ("Sunoco") announced today the execution of a definitive
agreement to purchase the refined products terminalling business
from American Midstream Partners, LP (NYSE: AMID) for approximately
$125 million plus working capital
adjustments.
The refined products terminalling business consists of terminals
located in Caddo Mills, Texas and
North Little Rock, Arkansas with a
combined 21 tanks, approximately 1.3 million barrels of storage
capacity and approximately 77,500 barrels per day of total
throughput capacity.
The acquisition builds on Sunoco's strategy of adding fee-based
refined product terminals into the overall portfolio. The
acquisition is subject to customary closing conditions
including clearance under the Hart-Scott-Rodino Act and is expected
to close in the fourth quarter of 2018. The
transaction is expected to be accretive to
Sunoco with respect to distributable cash flow in the first
year.
About Sunoco LP
Sunoco LP (NYSE: SUN) is a master
limited partnership that distributes motor fuel to approximately
10,000 convenience stores, independent dealers, commercial
customers and distributors located in more than 30 states. SUN's
general partner is owned by Energy Transfer Operating, L.P., a
subsidiary of Energy Transfer LP (NYSE: ET).
Forward-Looking Statements
This press 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. 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
Scott Grischow, Senior Director –
Investor Relations and Treasury
(214) 840-5660, scott.grischow@sunoco.com
Derek Rabe, CFA, Manager –
Investor Relations, Growth and Strategy
(214) 840-5553, derek.rabe@sunoco.com
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SOURCE Sunoco LP