Sunoco Logistics to pay $140 to buy butane blending business from Texon
By APMonday, June 28, 2010
Sunoco Logistics to pay $140M for Texon unit
PHILADELPHIA — Petroleum pipeline operator Sunoco Logistics Partners LP said Monday that it agreed to pay $140 million plus inventory to buy a butane blending business from Texon LP.
The company plans to pay for the purchase with a $100 million loan that will come from Sunoco Inc., along with money it will borrow from its credit line.
The company expects the deal to close July 1 and start contributing immediately to its earnings.
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