Sunoco to acquire NuStar in $7.3B all-equity deal with 24% premium

Sunoco LP

NuStar unitholders receive 0.400 Sunoco units per unit; ~24% premium based on 30-day VWAP.
Transaction valued at $7.3B including assumed debt; expected to close H2 2024.
Sunoco secured $1.6B bridge term loan and $1.5B revolver commitment from Truist.
Merger approved by both boards; subject to NuStar unitholder and regulatory approvals.
Sunoco to add one board member post-close; Energy Transfer enters support agreement.

item 1.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

Sunoco LP entered into Agreement and Plan of Merger with NuStar Energy L.P. (effective 2024-01-22).

Action: entry
Agreement: merger
Counterparty: NuStar Energy L.P.
Effective: 2024-01-22

Exact text from the filing

On January 22, 2024, Sunoco LP, a Delaware limited partnership (“ Parent ”), Saturn Merger Sub, LLC, a Delaware limited liability company and a direct wholly owned subsidiary of Parent (“ Merger Sub ”), NuStar Energy L.P., a Delaware limited partnership (the “ Partnership ”), Riverwalk Logistics, L.P., a Delaware limited partnership (the “ Partnership GP ”) and sole general partner of the Partnership, NuStar GP, LLC, a Delaware limited liability company (“ Partnership Managing GP ”) and the sole general partner of the Partnership GP and Sunoco GP LLC, a Delaware limited liability company (the “ Parent GP ”) and sole general partner of Parent, entered into an Agreement and Plan of Merger (the “ Merger Agreement ”),

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1 material agreements filed in the last 30 days. Browse all material agreements →

Sunoco LP filing history →

Source: SEC EDGAR

accession 0001193125-24-012283

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