Sunoco Completes $7.3B NuStar Energy Merger

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Energy Transfer-controlled Sunoco’s acquisition of NuStar Energy expands the large fuel distribution business with greater scale, but also branches out Sunoco into the crude oil midstream space with a strong Permian Basin footprint.

Sunoco agreed Jan. 22, 2024 to acquire NuStar in an all-equity deal valued at $7.3 billion with debt. The deal prices NuStar at nearly $3 billion, not counting debt.

The acquisition closed on May 3, 2024.