M&A: NuStar selling NE terminals to Sunoco

摘要

NuStar Energy said recently it has entered into an agreement with Sunoco LP to sell eight storage terminals, including six in the Northeast, one in Florida and one in Illinois for $250 million. The terminal locations changing hands are Andrews Air Force Base near Washington, D.C.; Baltimore and Piney Point, Maryland; Linden and Paulsboro, New Jersey; and Virginia Beach, Virginia. NuStar Energy is also selling its Jacksonville, Florida, and Blue Island, Illinois, storage terminals to Sunoco. NuStar Energy President and CEO Brad Barron said that the terminals being sold no longer have synergies with NuStar's core assets and he sees Sunoco LP as a more natural fit for the storage terminals.