SUNOCO LP (NYSE:SUN) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.
On January8, 2018, certain subsidiaries of Sunoco LP, a Delaware limited partnership (the “Partnership”) entered into a letter agreement to amend certain terms of that certain Asset Purchase Agreement (the “Purchase Agreement”), by and among Susser Petroleum Property Company LLC, a Delaware limited liability company (“PropCo”), Sunoco Retail LLC, a Pennsylvania limited liability company (“Sunoco Retail”), Stripes LLC, a Texas limited liability company (“Stripes”), Town& Country Food Stores, Inc., a Texas corporation (“Town& Country”), MACS Retail LLC, a Virginia limited liability company (“MACS,” and, together with PropCo, Sunoco Retail, Stripes and Town& Country, referred to herein collectively as “Sellers,” and each, individually, as a “Seller”), 7-Eleven, Inc., a Texas corporation (“7-Eleven”) and SEI Fuel Services, Inc., a Texas corporation and wholly-owned subsidiary of 7-Eleven (“SEI Fuel,” and, together with 7-Eleven, referred to herein collectively as “Buyers,” and each, individually, as a “Buyer”), and certain other parties to the Purchase Agreement, solely for the purposes set forth therein.
to the terms of the letter agreement, Sellers and Buyers have agreed to amend the Purchase Agreement to extend the outside date to January24, 2018, with the option to extend such date to a later date to which Buyers and Sellers mutually agree.
The foregoing description of the letter agreement is only a summary of such agreement, does not purport to be complete, and is subject to, and qualified in its entirety by reference to the letter agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form8-Kand is incorporated herein by reference and to the Purchase Agreement and corresponding Current Report on Form 8-K filed on April6, 2017, which is incorporated herein by reference.
Cautionary Statement Relevant to Forward-Looking Information
This Current Report on Form8-K includes forward-looking statements regarding future events. These forward-looking statements are based on the Partnership’s current plans and expectations and involve a numbers of risks and uncertainties that could cause actual results and events to vary materially from the results and events anticipated or implied by such forward-looking statements. For a further discussion of these risks and uncertainties, please refer to the “Risk Factors” section of the Partnership’s most recently filed Annual Report on Form 10-K and in other filings made by the Partnership with the Securities and Exchange Commission. While the Partnership may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so, even if new information becomes available.
|Item 1.01||Financial Statements and Exhibits.|
|10.1||Letter Agreement by and among by and among Susser Petroleum Property Company LLC, Sunoco Retail LLC, Stripes LLC, Town & Country Food Stores, Inc., MACS Retail LLC, 7-Eleven, Inc. and SEI Fuel Services, Inc., dated as of January8, 2018.|
Sunoco LP ExhibitEX-10.1 2 d522498dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 January 8,…To view the full exhibit click
About SUNOCO LP (NYSE:SUN)
Sunoco LP, formerly Susser Petroleum Partners LP, is engaged in the retail sale of motor fuels and merchandise through the Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors. The Company operates through two segments: wholesale and retail. The Wholesale operations segment sells motor fuel to its retail segment and external customers. The Retail operations segment operates convenience stores selling a range of merchandise, food items, services and motor fuel. It operates over 900 convenience stores and fuel outlets in over eight states. It distributes over 7.6 billion gallons of motor fuel through its convenience stores and consignment locations, contracted independent convenience store operators, and other commercial customers. Its retail convenience stores operate under brands, including Stripes and Aloha Island Mart.