Sunoco LP completed its acquisition of NuStar Energy L.P., a leading fuels storage and pipeline operator, in an all-equity transaction valued at approximately $7.3 billion, including assumed debt.

This acquisition enhances Sunoco's midstream infrastructure, adding approximately 9,500 miles of pipelines and 63 terminals to its portfolio, thereby strengthening its position in the energy sector.

Following the completion of the transaction, Sunoco announced a 4 percent increase in its quarterly distribution, reflecting confidence in the enhanced financial foundation resulting from the acquisition.