Sunoco has completed its acquisition of several European bulk liquid fuel terminals from Zenith Energy and the sale of 204 convenience stores to 7-Eleven, the Dallas-based fuel distributor said in a Wednesday news release.

The company also said it is working to complete its purchase of NuStar Energy and expects that deal to close in the second quarter. a closing likely later in this calendar quarter.

Sunoco agreed to purchase Zenith Energy Netherlands Amsterdam in March 2023 for $170 million euros ($181 million). That deal provides Sunoco with assets in the global energy trading hub of Amsterdam and could increase the company's role in North Atlantic energy and petrochemical trading. A bulk terminal in Bantry Bay, Ireland, was also part of the purchase.

7-Eleven agreed to pay about $1 billion to acquire 204 Sunoco c-stores in West Texas, New Mexico and Oklahoma. Under the sale agreement, Sunoco will retain a take-or-pay fuel supply agreement with 7-Eleven. The sale leaves Sunoco with little retail real-estate.

This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal. 


   --Reporting by Tom Kloza, tkloza@opisnet.com; Editing by Jeff Barber,   jbarber@opisnet.com

(END) Dow Jones Newswires

04-17-24 1003ET