DALLAS–(BUSINESS WIRE)–Energy Transfer Equity, L.P. (NYSE: ETE) and Energy Transfer Partners, L.P. (NYSE: ETP) today announced that ETE’s Registration Statement on Form S-4 relating to the previously announced merger transaction between ETE and ETP has been declared effective as of September 7, 2018 by the Securities and Exchange Commission (“SEC”), and that ETP has filed a definitive proxy statement with the SEC for the special meeting of its unitholders to vote on the merger.
The special meeting of ETP unitholders will be held on October 18, 2018, at 10:00 a.m. local time, at Hilton Dallas Park Cities Hotel, 5954 Luther Lane, Dallas, Texas 75225. All ETP common unitholders of record as of the close of business on September 10, 2018, which is the record date for the special meeting, will be entitled to vote their common units. The approval of the proposal to adopt the merger agreement requires the affirmative vote of holders of at least a majority of the outstanding ETP common units held by unaffiliated ETP common unitholders, and as such, not voting will have the same effect as a vote against the merger.
Pursuant to the terms of the merger agreement, upon completion of the merger, ETP unitholders will receive 1.28 common units of ETE for each common unit of ETP they own.
ETE and ETP expect the transaction to close in October 2018, subject to certain closing conditions under the terms of the merger agreement, including receipt of the required approval by ETP’s unitholders and the satisfaction of other customary closing conditions.
Important information about the merger and the special meeting of ETP unitholders is included in the proxy statement/prospectus, which has been filed with the SEC and which will be mailed on or about September 11, 2018 to all ETP unitholders as of the record date. ETP unitholders whose ETP common units are held in “street name” by a bank, broker or other nominee will receive instructions from the bank, broker or other nominee that they must follow in order to have their ETP common units voted. Most brokers offer the ability for unitholders to submit voting instructions by mail by completing a voting instruction card, by telephone and via the internet. Any unitholders holding ETP common units in “street name” should instruct their bank, broker or other nominee to vote their common units as soon as practicable to ensure that such common units are voted in the transaction.
ETP common unitholders who have questions about the merger or the special meeting, or desire additional copies of the proxy statement/prospectus or additional proxy cards or voting instruction forms should contact MacKenzie Partners, Inc., ETP’s proxy solicitor, at: MacKenzie Partners, Inc., Toll free: (800) 322-2885, Collect: (212) 929-5500.
About the Partnerships
Energy Transfer Equity, L.P. (NYSE:ETE) is a master limited partnership that owns the general partner and 100% of the incentive distribution rights (IDRs) of Energy Transfer Partners, L.P. (NYSE: ETP) and Sunoco LP (NYSE: SUN). ETE also owns Lake Charles LNG Company and the general partner of USA Compression Partners, LP (NYSE: USAC). On a consolidated basis, ETE’s family of companies owns and operates a diverse portfolio of natural gas, natural gas liquids, crude oil and refined products assets, as well as retail and wholesale motor fuel operations and LNG terminalling.
Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited partnership that owns and operates one of the largest and most diversified portfolios of energy assets in the United States. Strategically positioned in all of the major U.S. production basins, ETP 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. ETP’s general partner is owned by Energy Transfer Equity, L.P. (NYSE: ETE).