By Ben Glickman

Sunoco will look to acquire liquid fuels terminals in the Netherlands and Ireland.

The fuel-distributor limited partnership said it intended to acquire 100% of the equity interest in Zenith Energy Netherlands Amsterdam, which includes terminals in Amsterdam and Bantry Bay, Ireland.

Sunoco said the appropriate Dutch works council consultation and information processes are currently underway, and the purchase price will be announced after these processes are complete.

Sunoco said the deal will provide supply optimization for its East Coast business and is expected to close in the first quarter.

The acquisition will be funded with Sunoco's revolving credit facility.

Sunoco also said it would sell 204 convenience stores in the U.S. to Seven & i Holdings-owned 7-Eleven for nearly $1 billion.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

January 11, 2024 07:38 ET (12:38 GMT)

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