A butane blending business of Texon L.P. (NYSE:TXT) is the latest acquisition of Sunoco Logistics (NYSE:SXL), which reportedly bought the unit for $140 million plus inventory.
The acquisition will be funded through a $100 million loan via Sunuco Corp.'s revolving credit facility.
The butane business includes, along with its butane/gas blending technology, several contracts with giant terminal operator who use the technology.
Sunoco and Texon are expected to close the deal on July 1.
No comments:
Post a Comment