NuStar Energy Closes on Sale of 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)–Nov. 30, 2018–
NuStar Energy L.P. (NYSE: NS) announced today that it has closed on the
sale of its European terminals and related assets to Inter Terminals
Ltd., which is Inter Pipeline Ltd.’s European storage subsidiary, for
$270 million, plus normal closing adjustments. The operations include
six liquids storage terminals in the United Kingdom and one facility in
Amsterdam.

“This was a very important strategic decision for NuStar but also a
difficult one given the …

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