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Sunoco Logistics buying butane-blending business

Sunoco Logistics Partners L.P., the Philadelphia pipeline company, said Monday that it had agreed to buy a butane blending business from Texon L.P. for $140 million plus inventory.

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Sunoco Logistics Partners L.P., the Philadelphia pipeline company, said Monday that it had agreed to buy a butane blending business from Texon L.P. for $140 million plus inventory.

Sunoco Logistics said in a statement that it planned to pay for the purchase with a $100 million loan from parent company Sunoco Inc. and borrowings under a credit facility.

The deal is expected to close July 1.    - Bloomberg News