Sunoco To Buy Energy Transfer's Convenience Stores

Energy Transfer Partners (ETP) announced Wednesday that it would sell its convenience-stores business, Susser Holdings Corp., to Sunoco (SUN). Energy Transfer also has a large stake in Sunoco. The drop-down deal will help Sunoco, a master limited partnership, expand its retail and convenience store sites. Sunoco will pay Energy Transfer Partners $970 million in cash and issue 22 million units, valued at $970 million. The company plans to issue

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