Sunoco completed the acquisition of NuStar Energy for $7.3bn.

Sunoco, a master limited partnership with core operations that include the distribution of motor fuel, completed the acquisition of NuStar Energy, an independent liquids terminal and pipeline operator, for $7.3bn. The completion of this transaction increases Sunoco's stability and credit profile, strengthens its financial foundation, and enhances its ability to grow. Sunoco expects to realize at least $150m of expense and commercial synergies. In addition, Sunoco expects at least $50m per year of additional cash flow from refinancing activity. Sunoco expects the transaction to be immediately accretive to distributable cash flow per LP unit, growing to greater than 10% accretion by the third year following close.