Sunoco LP signed a definitive agreement to purchase the refined products terminal business from American Midstream Partners for $125 million plus working capital adjustments.
The refined products terminal business consists of terminals located in Caddo Mills, Texas and North Little Rock, Arkansas with a combined 21 tanks, approximately 1.3 million barrels of storage capacity and approximately 77,500 barrels per day of total throughput capacity.
The acquisition builds on Sunoco's strategy of adding fee-based refined product terminals into the overall portfolio.
The acquisition is subject to customary closing conditions including clearance under the Hart-Scott-Rodino Act and is expected to close in the fourth quarter of 2018.
