Susser Petroleum Partners LP and Energy Transfer Partners, L.P. announced the first dropdown transaction between ETP and SUSP. In addition, SUSP announced an agreement to acquire Hawaii-based Aloha Petroleum Ltd., closing of a new $1.25 billion revolving credit facility, and its plan to change the Partnership's name to Sunoco LP.

Dropdown of MACS and Acquisition of Aloha Petroleum

SUSP has agreed to acquire Mid-Atlantic Convenience Stores, LLC from ETP in a transaction valued at approximately $768 million. The consideration payable by SUSP will consist of approximately 4 million newly issued SUSP common units and $556 million of cash, subject to customary closing adjustments. SUSP plans to initially finance the cash portion by utilizing availability under the revolving credit facility, with longer term financing through a combination of debt and equity. The transaction is expected to be immediately accretive to distributable cash flow per unit for both SUSP and ETP.

Tags: Energy Transfer Partners, Susser Petroleum Partners LP