NuStar Energy closes on sale of Eastern US terminals to Sunoco LP for $250m
NuStar Energy LP has announced that it has closed on the sale of its Eastern US Terminals to Sunoco LP for $250 million.
The Eastern US Terminals are comprised of eight terminal locations: Andrews AFB in Washington, DC, Baltimore, MD, Blue Island, IL, Jacksonville, FL, Linden, NJ, Paulsboro, NJ, Piney Point, MD, and Virginia Beach, VA. The companies first announced this sale on August 2, 2021.
“This divestiture will allow us to deploy the proceeds to further improve our debt metrics, and we continue to expect to self-fund our spending from our internally generated cash flows, in 2021 and beyond,” said Brad Barron, president and CEO of NuStar.