Sunoco LP (NYSE:SUN) executed a definitive agreement to acquire refined products terminalling business from American Midstream Partners, LP (NYSE:AMID) for approximately $130 million on November 15, 2018. The consideration consists of approximately $125 million, plus working capital adjustments. The transaction is subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Act.

As of December 10, 2018, early termination notice was received from Federal Trade Commission. The transaction is expected to close in the fourth quarter of 2018. The transaction is expected to be accretive to Sunoco with respect to distributable cash flow in the first year.

Barclays acted as the exclusive financial advisor and Sidley Austin LLP acted as the legal advisor to American Midstream in the transaction. Lande Spottswood, Yong Eoh, Greg Henson, Joe Garcia, Larry Pechacek, Matt Dobbins, Billy Vigdor, Evan Miller, Prentiss Cutshaw, Carrie Winkler and Tyler Hokanson of Vinson & Elkins LLP acted as legal advisor to Sunoco LP.