Sunoco to acquire the European terminal portfolio of Zenith Energy.

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.