SUNOCO LP TO ACQUIRE NUSTAR ENERGY LP IN A $7.3 BILLION TRANSACTION

22 January 2024

On January 22th, 2024 Sunoco LP (“Sunoco” or the “Partnership”, NYSE: SUN) and NuStar Energy LP (“NuStar”, NYSE: NS) announced that the parties have entered into a definitive agreement whereby Sunoco will acquire NuStar in an all-equity transaction valued at approximately $7.3 billion, including assumed debt.

Under the terms of the agreement, NuStar common unitholders will receive 0.40 Sunoco common units for each NuStar common unit.

The transaction has been unanimously approved by the board of directors of both companies and is expected to close in the second quarter of 2024 upon the satisfaction of closing conditions, including approval by NuStar’s unitholders and customary regulatory approvals.

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


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