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Energy Transfer to sell stake in Sunoco LLC to Sunoco LP
November 16, 2015 / 12:20 PM / 2 years ago

Energy Transfer to sell stake in Sunoco LLC to Sunoco LP

(Reuters) - Energy Transfer Partners LP (ETP.N) said it would sell its 68.42 percent stake in convenience store operator Sunoco LLC to Sunoco LP (SUN.N) for about $2.23 billion.

Sunoco LP will pay Energy Transfer Partners about $2.2 billion in cash and issue about 5.7 million common units.

Both Sunoco and Energy Transfer Partners are master-limited partnerships formed by pipeline operator Energy Transfer Equity LP (ETE.N).

Reporting by Amrutha Gayathri in Bengaluru; Editing by Saumyadeb Chakrabarty

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