Energy Transfer to sell stake in Sunoco LLC to Sunoco LP

Mon Nov 16, 2015 7:12am EST
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Nov 16 (Reuters) - Energy Transfer Partners LP said it would sell its 68.42 percent stake in convenience store operator Sunoco LLC to Sunoco LP for about $2.23 billion.

Sunoco LP will pay Energy Transfer Partners about $2.2 billion in cash and issue about 5.7 million common units.

Both Sunoco and Energy Transfer Partners are master-limited partnerships formed by pipeline operator Energy Transfer Equity LP. (Reporting by Amrutha Gayathri in Bengaluru; Editing by Saumyadeb Chakrabarty)