Green Touch Builders | Sunoco LP to pay $816M to Energy Transfer Partners for stake in fuel distribution business
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March 23, 2015 By SEO Admin

Sunoco LP to pay $816M to Energy Transfer Partners for stake in fuel distribution business

Dallas-based Energy Transfer Partners LP (NYSE: ETP) will drop down another portion of its retail business to Houston-based Sunoco LP (NYSE: SUN) in an $816 million deal.

ETP acquired Philadelphia-based Sunoco Inc. in 2012, then it acquired Houston-based Susser Petroleum Partners last year and in October changed its name to Sunoco LP. Prior to the name change, ETP dropped down $768 million in assets to Susser, while Susser also purchased Honolulu-based Aloha Petroleum Ltd. for $240 million.

Now,…