Susser Holdings (SUSS) Approves Filing for IPO of its Wholesale Fuel Business
Tweet Send to a FriendGet Alerts SUSS Hot Sheet
Up)
Trade SUSS Now!
Susser Holdings Corporation (NASDAQ: SUSS) has approved the filing of a registration statement to effect an initial public offering (IPO) through the formation of a master limited partnership (MLP) that will operate substantially all of Susser Holding's legacy wholesale fuel distribution business.
Susser Holdings would own the general partner of the new entity, Susser Petroleum Partners LP, as well as all of the MLP incentive distribution rights and a majority of its units representing limited partner interests. Concurrently with the closing of the IPO, Susser Holdings expects to receive a cash distribution from the MLP in an amount corresponding to net IPO offering proceeds (after giving effect to all discounts, fees and expenses).
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Susser Holdings would own the general partner of the new entity, Susser Petroleum Partners LP, as well as all of the MLP incentive distribution rights and a majority of its units representing limited partner interests. Concurrently with the closing of the IPO, Susser Holdings expects to receive a cash distribution from the MLP in an amount corresponding to net IPO offering proceeds (after giving effect to all discounts, fees and expenses).
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- ChannelAdvisor (ECOM) Prices 5.75M IPO at $14/Share
- Sprint (S), SoftBank Receive Final State Regulatory Approval in Proposed Deal
- Yingli Green Energy (YGE) to Supply 10.269 MW Modules to Malaysia Power Plant
Create E-mail Alert Related Categories
Corporate News, IPOs
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
