NuStar Energy To Simplify Structure In $7.9B Deal

Law360 (February 8, 2018, 4:31 PM EST) -- Texas-based NuStar Energy LP on Thursday unveiled a restructuring effort that would see a subsidiary of the liquids terminal and oil pipeline operations company merge with the owner of its general partner interest to create a $7.9 billion partnership.

Under the proposed deal, a NuStar unit would merge with NuStar GP Holdings LLC by way of a unit-for-unit exchange worth roughly $780 million including debt, to form a NuStar subsidiary, according to Thursday's release.

The release said that NuStar Holdings also holds a roughly 11 percent...
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