Energy Transfer Partners and Energy Transfer Equity Announce Closing of Two
Major Transactions in Simplifying Structure
Southern Union Gathering Contribution to Regency Energy Partners and ETP
Holdco Transactions Completed
DALLAS -- April 30, 2013
Energy Transfer Partners, L.P. (NYSE:ETP) and Energy Transfer Equity, L.P.
(NYSE:ETE) announced today the closing of two major transactions, executing
on their commitment to simplify their structures and optimize their asset
Southern Union Gathering Company to Regency Energy Partners
Southern Union Company (Southern Union), an affiliate of ETE and ETP, closed
on its previously announced agreement to contribute Southern Union Gathering
Company, LLC, the owner of Southern Union Gas Services, Ltd. (SUGS), to
Regency Energy Partners LP (NYSE: RGP) in exchange for $1.5 billion of cash
and Regency equity. The transaction includes a 5,600-mile gathering system in
West Texas and New Mexico and approximately 500 million cubic feet per day of
processing and treating facilities.
ETP Acquires ETE’s Interest in ETP Holdco
ETP closed on its previously announced agreement to acquire ETE’s 60% interest
in ETP Holdco Corp. for $3.75 billion of cash and ETP equity. ETP Holdco is an
entity formed by ETP and ETE in 2012 to own the equity interests in Southern
Union and Sunoco, Inc. With the closing of this acquisition, ETP now owns 100%
of ETP Holdco.
Transactions Simplify Partnership Structure
The contribution of SUGS to Regency and ETP’s acquisition of ETE’s interest in
ETP Holdco represent important steps in executing on ETE’s and ETP’s
commitment to simplify their structures and optimize their asset portfolios.
These completed transactions follow the December announcement by ETE and ETP
that Southern Union’s local distribution companies (LDCs), Missouri Gas Energy
and New England Gas Company, would be sold. The sale of the LDCs is expected
to close in the third quarter of 2013.
Energy Transfer Partners, L.P. (NYSE:ETP) is a master limited partnership
owning and operating one of the largest and most diversified portfolios of
energy assets in the United States. ETP currently has natural gas operations
that include approximately 62,000 miles of gathering and transportation
pipelines, treating and processing assets, and storage facilities. ETP also
owns general partner interests, 100% of the incentive distribution rights, and
a 33.5 million limited partner units in Sunoco Logistics Partners L.P.
(NYSE:SXL), which operates a geographically diverse portfolio of crude oil and
refined products pipelines, terminalling and crude oil acquisition and
marketing assets. ETP also holds a 70% interest in Lone Star NGL, a joint
venture that owns and operates natural gas liquids storage, fractionation and
transportation assets in Texas, Louisiana and Mississippi. ETP owns 100% of
ETP Holdco Corporation, which ownsSouthern Union CompanyandSunoco, Inc.
ETP’s general partner is owned by ETE. For more information, visit the Energy
Transfer Partners, L.P. website at www.energytransfer.com.
Energy Transfer Equity, L.P. (NYSE:ETE) is a master limited partnership, which
owns the general partner and 100% of the incentive distribution rights (IDRs)
of Energy Transfer Partners, L.P. (NYSE:ETP) and approximately 100 million ETP
limited partner units; and owns the general partner and 100% of the IDRs of
Regency Energy Partners LP (NYSE:RGP) and approximately 26.3 million RGP
limited partner units. The ETE family of companies owns more than 71,000 miles
of natural gas, natural gas liquids, refined products, and crude pipelines.
For more information, visit the Energy Transfer Equity, L.P. web site at
This press release may include certain statements concerning expectations for
the future that are forward-looking statements as defined by federal law. Such
forward-looking statements are subject to a variety of known and unknown
risks, uncertainties, and other factors that are difficult to predict and many
of which are beyond management’s control. An extensive list of factors that
can affect future results are discussed in the Partnerships’ Annual Reports on
Form 10-K and other documents filed from time to time with the Securities and
Exchange Commission. The Partnerships undertake no obligation to update or
revise any forward-looking statement to reflect new information or events.
The information contained in this press release is available on our website at
Brent Ratliff, 214-981-0700
Granado Communications Group
Vicki Granado, 214-599-8785
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