Energy Transfer Partners to buy Sunoco for $5.3B

Joe Rich · 04-30-2012, 05:03 PM

NEW YORK (AP) — Energy Transfer Partners is buying Sunoco in a $5.3 billion deal that creates one of the more diverse pipeline companies in the country.

The acquisition includes nearly 8,000 miles of pipeline, as well as 4,900 gas stations in 24 Eastern states. Those stations will keep the iconic Sunoco brand name and its diamond-and-arrow logo. The deal also brings a refinery business that Sunoco is trying to get out of.
Sunoco Inc. will remain based in Philadelphia and continue its exit from the refining business. It already has shut down a refinery in Marcus Hook, Pa., and it is planning to sell its controlling interest in its Philadelphia refinery to The Carlyle Group.

04-30-2012, 05:03 PM	#1
Joe Rich Junior Member Join Date: Jun 2007 Location: orlando, fla Posts: 27 Likes: 0 Liked 0 Times in 0 Posts	Energy Transfer Partners to buy Sunoco for $5.3B NEW YORK (AP) — Energy Transfer Partners is buying Sunoco in a $5.3 billion deal that creates one of the more diverse pipeline companies in the country. The acquisition includes nearly 8,000 miles of pipeline, as well as 4,900 gas stations in 24 Eastern states. Those stations will keep the iconic Sunoco brand name and its diamond-and-arrow logo. The deal also brings a refinery business that Sunoco is trying to get out of. Sunoco Inc. will remain based in Philadelphia and continue its exit from the refining business. It already has shut down a refinery in Marcus Hook, Pa., and it is planning to sell its controlling interest in its Philadelphia refinery to The Carlyle Group. __________________ Joe Rich 2195 SG