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New Deal


Announced

Sunoco to acquire the European terminal portfolio of Zenith Energy.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Storage Terminals

Acquisition

Pending

Netherlands

Ireland

Private

Single Bidder

Majority

Friendly

liquid fuels terminals

Cross Border

Infrastructure

Synopsis

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Sunoco, one of the largest independent fuel distributors in the United States, agreed to acquire the European terminal portfolio of Zenith Energy, an international independent oil & gas company. Financial terms were not disclosed. The acquisition will provide supply optimization for SUN's existing East Coast business and continues SUN's focus on growing its portfolio of stable midstream income. SUN expects this tuck-in acquisition to be accretive to unitholders in the first year of ownership and will be funded using amounts available under SUN's revolving credit facility. The transaction is expected to close in the first quarter of 2024, subject to customary closing conditions.

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