Sunoco Logistics to acquire two terminals
Apr 1, 2004 12:00 PM
Sunoco Logistics Partners LP has signed a definitive agreement with ConocoPhillips Co to purchase two refined product terminals in Baltimore MD and Manassas VA for $12 million. Total storage at the two locations is approximately 930 thousand barrels of shell capacity.
Customers will include third parties and Sunoco Inc, which announced Jan 27, 2004, that it was purchasing from ConocoPhillips a retail network consisting of 385 sites, some of which are in Maryland and Virginia.
Closing of the transaction is expected by mid-May, subject to closing of the Sunoco purchase of the retail network from ConocoPhillips, as well as customary closing conditions.
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