Sunoco Completes $7.3 Billion NuStar Energy Merger
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Sunoco said it has completed the acquisition of NuStar. The merger was approved by NuStar unitholders at its special meeting held on May 1, 2024.
The completion of this transaction increases Sunoco’s stability and credit profile, strengthens its financial foundation, and enhances its ability to grow.
Sunoco expects to realize at least $150 million of expense and commercial synergies.
In addition, Sunoco expects at least $50 million per year of additional cash flow from refinancing activity.
Sunoco expects the transaction to be immediately accretive to distributable cash flow per LP unit, growing to greater than 10 percent accretion by the third year following close.
Sunoco is a leading energy infrastructure and fuel distribution master limited partnership operating across 47 U.S. states, Puerto Rico, Europe, and Mexico. The partnership’s midstream operations include an extensive network of approximately 9,500 miles of pipeline and over 100 terminals. This critical infrastructure complements the partnership’s fuel distribution operations, which serve approximately 10,000 convenience stores, independent dealers, commercial customers, and distributors. Sunoco’s general partner is owned by Energy Transfer.
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