Deal snapshot: ENERGY TRANSFER PARTNERS TO SELL SUSSER CONVENIENCE STORE UNIT TO SUNOCO FOR USD 1.94BN.

MANews-(C)2009-2015

US-based energy companies Energy Transfer Partners, L.P. (NYSE: ETP) and Sunoco LP (NYSE: SUN) have agreed to the dropdown of 100% of Energy Transfer's Susser Holdings Corp. convenience store business for approximately USD 1.94bn. In addition, there will be an exchange for 11m SUN units owned by SHC for another 11m new SUN units to a subsidiary of ETP. For the SHC dropdown, SUN will pay to ETP approximately USD 970 m in cash and issue approximately 22 m SUN units valued at approximately USD 970m based on the five-day volume-weighted average price of SUN's common units as of 14 July 2015.

Country: USA

Sector: Petroleum/Natural Gas/Coal

Target...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT