Susser Petroleum Partners LP Launches Initial Public Offering Tuesday, September 11, 2:32 PM ET
Susser Petroleum Partners announced today that it has commenced an initial public offering of 9,500,000 common units representing limited partner interests in Susser Petroleum Partners. The underwriters will be granted a 30-day option to purchase up to an additional 1,425,000 common units. The common units will be listed on the New York Stock Exchange and traded under the symbol SUSP.
Susser Petroleum Partners was formed by Susser Holdings Corporation (NYSE:SUSS) to engage in the primarily fee-based wholesale distribution of motor fuels to Susser Holdings and third parties. The common units being offered to the public represent a 43.4% limited partner interest in Susser Petroleum Partners, or a 49.9% limited partner interest if the underwriters exercise their option to purchase additional common units in full.
Bank of America/Merrill Lynch (NYSE:BAC), Barclays (NYSE:BCS), Wells Fargo Securities (NYSE:WFC) and UBS Investment Bank (NYSE:UBS) are acting as joint book-running managers for the offering.
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