Sunoco LP has completed its $7.3 billion acquisition of NuStar Energy, increasing Sunoco’s credit profile and financial stability, the companies announced May 3.

With NuStar’s incorporation into Sunoco, Sunoco expects to realize at least $150 million of expense and commercial synergies and at least $50 million per year of additional cash flow from refinancing activity.

After clearing a regulatory waiting period from the Federal Trade Commission, the merger was approved by NuStar unitholders at its May 1 special meeting. As of May 3, NuStar’s common units ceased trading on the New York Stock Exchange.

Sunoco also declared a quarterly distribution, representing a 4% increase, for first quarter 2024 of $0.875 per common unit or $3.50 annually.

The distribution will be paid on May 20 to common unitholders of record by May 13, including former NuStar unitholders who received Sunoco units upon the transactions’ closing.


NuStar Energy Unitholders Approve Merger with Sunoco