Deals
Billionaire Kelcy Warren Streamlines Energy Pipeline Empire
- Deal follows collapse of Williams takeover earlier this year
- Brings two of Warren’s biggest partnerships under one roof
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Kelcy Warren, the billionaire pipeline investor who founded Energy Transfer Equity LP, is working to consolidate his empire.
His Sunoco Logistics Partners LP unit is buying Energy Transfer Partners LP, the partnership that controls it, in a transaction that values the target at $21.3 billion. Energy Transfer unitholders will receive 1.5 common units of Sunoco for each unit they own, equal to a 10 percent premium to its average price in the past 30 trading days, according to a statement Monday.