Business

Energy Transfer Buying Susser Holdings, $1.8B Deal

In this photo illustration a man refuels his car at a gas station. (credit: Getty Images/Miguel Villagran)

In this photo illustration a man refuels his car at a gas station. (credit: Getty Images/Miguel Villagran)

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DALLAS, Texas (AP) – Energy Transfer Partners LP is buying Susser Holdings Corp., an operator of convenience stores that sell gas, in a deal valued at about $1.8 billion.

Energy Transfer bought Sunoco Inc. for about $5.5 billion in 2012. The company says adding Corpus Christi-based Susser to Sunoco’s more than 5,000 retail stores -which are mostly on the East Coast – will expand Sunoco’s geographic reach.

Susser operates 630 Stripes and Sac-N-Pac convenience stores in New Mexico, Oklahoma and Texas.

The transaction will give Energy Transfer ownership of the general partner interest and incentive distribution rights in Susser Petroleum Partners LP, about 11 million Susser Petroleum common units and Susser Holdings’ retail operations.

(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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