NuStar Energy Agrees to Sell Its European Operations to Inter Pipeline

Proxy Advisory Firms Recommend Approval of NuStar Energy and NuStar GP Holdings Proposed Merger Transaction

Divestiture Part of NuStar’s Comprehensive Plan to Lower Debt and
Deliver Strong, Sustainable Distribution Coverage

SAN ANTONIO–(BUSINESS WIRE)–Oct. 30, 2018–
NuStar Energy L.P. (NYSE: NS) announced today that it has entered into
an agreement to sell its European terminals and related assets to Inter
Pipeline Ltd.’s European storage subsidiary, Inter Terminals Ltd., for
$270 million. The operations include six liquids storage terminals in
the United Kingdom and one facility in Amsterdam. The acquisition is
expected to close in the fourth quarter of 2018, subject to normal
closing adjustments.

“The decision t…

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