MOSCOW (MRC) -- Sunoco LP has announced the execution of a definitive agreement to purchase certain assets from Superior Plus Corporation for approximately USD40 million plus working capital adjustments, as per Hydrocarbonprocessing.
The assets consist of a network of approximately 100 dealers, several hundred commercial contracts and three terminals, which are connected to major pipelines serving the Upstate New York market. The wholesale fuels business sells approximately 200 million gallons of fuel annually through multiple channels. The three terminals have a combined 17 tanks with 429 thousand barrels of storage capacity.
The acquisition is consistent with Sunoco's strategy of utilizing its scale to grow the core fuel distribution business and adding fee-based refined product terminals into the overall portfolio. The acquisition is subject to customary closing conditions and is expected to close in April 2018.
The transaction is expected to be immediately accretive to Sunoco with respect to distributable cash flow.
As MRC informed before, in February 2016, Fluor was awarded a construction management contract by Sunoco Logistics for the Mariner East 2 project at its Marcus Hook Industrial Complex on the Delaware River in Pennsylvania.
Upon completion, Mariner East 2 was anticipated to provide an additional 275,000 bpd of natural gas liquids (NGLs) for distribution to local, domestic and international markets. Fluor was to manage the construction of new terminal facilities to store, chill, process and distribute propane, butane and ethane at the complex.
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