Sunoco to Buy European Liquid-Fuel Terminals
January 11 2024 - 7:53AM
Dow Jones News
By Ben Glickman
Sunoco will look to acquire liquid fuels terminals in the
Netherlands and Ireland.
The fuel-distributor limited partnership said it intended to
acquire 100% of the equity interest in Zenith Energy Netherlands
Amsterdam, which includes terminals in Amsterdam and Bantry Bay,
Ireland.
Sunoco said the appropriate Dutch works council consultation and
information processes are currently underway, and the purchase
price will be announced after these processes are complete.
Sunoco said the deal will provide supply optimization for its
East Coast business and is expected to close in the first
quarter.
The acquisition will be funded with Sunoco's revolving credit
facility.
Sunoco also said it would sell 204 convenience stores in the
U.S. to Seven & i Holdings-owned 7-Eleven for nearly $1
billion.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
January 11, 2024 07:38 ET (12:38 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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