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.
Tuesday, June 29, 2010
Sunoco Logistics (NYSE:SXL) Acquires Texon L.P. (NYSE:TXT) Butane Business
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