* Says deal to add to earnings immediately
* To fund deal with $100 mln loan from Sunoco Inc
* Deal includes technology to blend butane into gasoline
June 28 (Reuters) - Sunoco Logistics Partners L.P. said Monday it signed an agreement to buy a butane-blending business from Texon L.P. for $140 million plus inventory.
The Philadelphia-based oil and gas pipeline operator, which expects the deal to add to earnings immediately, said it would fund the transaction with a $100-million loan from Sunoco Inc and borrowings under its revolving credit facility.
Sunoco Logistics said the deal includes patented technology for blending butane into gasoline, contracts with several terminal operators currently using the technology, butane inventories, and other related assets.
Units of the partnership closed at $72.24 Monday on the New York Stock Exchange.
(Reporting by Adveith Nair in Bangalore; Editing by Vyas Mohan) Keywords: SUNOCOLOGISTICS/ (adveith.nair@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 4135 5800; Reuters Messaging: adveith.nair.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* To fund deal with $100 mln loan from Sunoco Inc
* Deal includes technology to blend butane into gasoline
June 28 (Reuters) - Sunoco Logistics Partners L.P. said Monday it signed an agreement to buy a butane-blending business from Texon L.P. for $140 million plus inventory.
The Philadelphia-based oil and gas pipeline operator, which expects the deal to add to earnings immediately, said it would fund the transaction with a $100-million loan from Sunoco Inc and borrowings under its revolving credit facility.
Sunoco Logistics said the deal includes patented technology for blending butane into gasoline, contracts with several terminal operators currently using the technology, butane inventories, and other related assets.
Units of the partnership closed at $72.24 Monday on the New York Stock Exchange.
(Reporting by Adveith Nair in Bangalore; Editing by Vyas Mohan) Keywords: SUNOCOLOGISTICS/ (adveith.nair@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 4135 5800; Reuters Messaging: adveith.nair.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.