SUN - Sunoco buys eight terminal locations from NuStar in $250M deal

Sunoco LP (NYSE:SUN) agrees to buy eight refined product terminals from NuStar Energy (NYSE:NS) for $250M, which it says will significantly expand its midstream business and enhance its platform for fuel distribution expansion. The acquisition includes seven refined product terminals on the U.S. east coast and one in the Midwest, with an aggregate storage capacity of 14.8M barrels. The terminals primarily handle refined products and are accessed via pipeline, truck, rail and marine vessels. NuStar says the facilities are no longer synergistic with its core assets in NY Harbor and in the southeast U.S. Sunoco also buys a refined product terminal in Maryland from Cato Inc. for $5.5M.

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Sunoco buys eight terminal locations from NuStar in $250M deal