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Susser Holdings (SUSS) Approves Filing for IPO of its Wholesale Fuel Business

June 21, 2012 4:12 PM EDT
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).


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