Analysts and investors have pushed Mr. Warren to reduce the complexity in his empire. The outstanding Energy Transfer Class E, Class G, Class I and Class K units at the effective time of the merger were converted into an equal number of newly created classes of Sunoco Logistics units, with the same rights, preferences, privileges, duties and obligations as such classes of Energy Transfer units had immediately prior to the closing of the merger. Our Standards: The Thomson Reuters Trust Principles. Subscribe to North American Oil & Gas Pipelines (Print or Digital), To better serve our many subscribers that are working from home during this time, we are offering digital issues of North American Oil and Gas Pipelines. Sunoco Logistics/Energy Transfer. All quotes delayed a minimum of 15 minutes. Please, Pipelines One of the Safest Ways to Transport Energy Says API, AOPL Report, Excavation-Related Damages to Utilities in 2019 Cost the U.S. About $30 Billion, Russ Girling to Retire as President and CEO of TC Energy, MPLX Proposes Expansion of SLC Core Pipeline System. Based on the Energy Transfer units outstanding, Sunoco Logistics issued approximately 845 million common units to Energy Transfer unitholders. Reporting by Vishaka George in Bengaluru; Editing by Martina D’Couto. Process all pricing for both pipeline and crude oil. As part of the completion of the merger, Sunoco Logistics Partners LP changed its name to Energy Transfer Partners LP, and its common units are expected to begin trading on the New York Stock Exchange (NYSE) under the “ETP” ticker symbol on May 1. Effective with the opening of the market on April 28, Energy Transfer ceased to be a publicly traded partnership, and its common units discontinued trading on the NYSE. Sunoco Logistics Partners LP and Energy Transfer Partners LP have completed the merger of an indirect subsidiary of Sunoco Logistics with and into Energy Transfer. Sunoco Logistics Partners L.P. Energy Transfer Partners, L.P. Mizuho Energy Infrastructure Summit April 3-4, 2017 Nov 21 (Reuters) - Sunoco Logistics Partners LP said on Monday it would buy Energy Transfer Partners LP in a deal valued at $19.93 billion. See here for a complete list of exchanges and delays. La firma energética Sunoco Logistics anunció hoy que ha cerrado un acuerdo definitivo para comprar la empresa Energy Transfer Partners en una operación valorada en casi 20.000 millones de dólares. ETP owns about 21 pct of Sunoco Logistics, according to Thomson Reuters data. Sunoco Logistics will buy Energy Transfer Partners in a $21 billion all-stock deal that will simplify a network of pipeline firms controlled by billionaire Kelcy Warren. Additionally, the outstanding Sunoco Logistics common units and Class B units owned by Energy Transfer at the effective time of the merger were cancelled. In connection with the merger and the company’s name change, its general partner became a consolidated subsidiary of Energy Transfer Equity LP. Sunoco Logistics Partners LP said on Monday it would buy Energy Transfer Partners LP in a deal valued at $19.93 billion. RELATED: Sunoco Logistics to Acquire Energy Transfer Partners. Jan 2006 – Present 14 years 6 months. Strategically positioned in all of the major U.S. production basins, the company owns and operates a geographically diverse portfolio of complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; NGL fractionation; and various acquisition and marketing assets. Sunoco Logistics’ general partner is a unit of ETP. Sunoco Logistics Partners L.P. (“SXL”) and Energy Transfer Partners, L.P. (“ETP”) have entered into a merger agreement providing for the acquisition of ETP by SXL in a unit-for-unit transaction – 1.500 SXL common units for each ETP unit, implying a price of $39.29 per unit based on … Sunoco Logistics is a master limited partnership that owns and operates a logistics business consisting of a geographically diverse portfolio of complementary pipeline, terminalling and acquisition and marketing assets, which are used to facilitate the purchase and sale of crude oil, natural gas liquids and refined products. Houston, Texas Area. Energy Transfer will become a wholly owned subsidiary of Sunoco Logistics. Sunoco Logistics Partners LP will buy Energy Transfer Partners LP in a $21 billion all-stock deal that will combine and simplify a network of giant pipeline firms controlled by Dallas billionaire Kelcy Warren. Energy Transfer Partners struggled to grow after... TurboTax service code: $60 for Deluxe version, 50% off QuickBooks Self-Employed with Intuit coupon code, File state & federal tax returns for free at TaxSlayer, H&R Block Tax discount - 30% off new tax prep software, $20 Amazon gift card for TaxAct referrals, LifeLock coupon: Up to 25% off the first year LifeLock - Terms Apply, ‘Selling Uncertainty:' Hotels Grapple With Restrictions, Tourism Decline, Why East Asia Is Beating the West in Controlling Coronavirus, WSJ Opinion: Media Ignores Escalating Biden Family News Story, On the Mexico Border, Trump Administration Rushes to Build New Wall, How the U.S-China Fight for TikTok Further Fractures the Internet, News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services. Energy Transfer’s general partner is owned by Energy Transfer Equity. Energy Transfer Partners is a master limited partnership that owns and operates one of the largest and most diversified portfolios of energy assets in the United States.
Pipeline companies Sunoco Logistics and Energy Transfer Partners said on Monday they would combine to cut borrowing and operating costs. The outstanding Energy Transfer Class E, Class G, Class I and Class K units at the effective time of the merger were converted into an equal number of newly created classes of Sunoco Logistics units, with the same rights, preferences, privileges, duties and obligations as such classes of Energy Transfer units had immediately prior to the closing of the merger.
At the effective time of the merger, each Energy Transfer common unit converted into the right to receive 1.5 Sunoco Logistics common units.
Sunoco Logistics said ETP shareholders would get 1.5 Sunoco units for each ETP share they own, which works out to about $39.30 per share, a slight discount to the stock’s Friday close of $39.37.
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