Sunoco LP to Acquire NuStar Energy L.P. in Transaction Valued at US$7.3 Billion

Sunoco LP and NuStar Energy L.P. have announced that both parties have entered into a definitive agreement whereby Sunoco will acquire NuStar in an all-equity transaction valued at approximately US$7.3 billion, including assumed debt.

The acquisition is positioned to create a leading, nationwide refined products terminal system and enhance Sunoco LP's existing logistics platform. Upon completion of the transaction, the combined entity is expected to be a leading, fully integrated refined products terminal system in the United States. The combined entity is anticipated to have an extensive distribution network with a significant presence in key geographic areas. The transaction is expected to generate significant financial and operational benefits for the combined entity, enhancing its competitive position in the market. The transaction is expected to close in Q2 of 2024, pending regulatory approval and NuStar unitholder approval.