IHS Chemical Week

People & Business :: Energy and Feedstocks

Enterprise to Sell Part of Stake in Pipeline Operator Energy Transfer Equity

8:43 AM MST | December 27, 2011 | Robert Westervelt

Enterprise Products Partners has agreed to sell 22.8 million common units of pipeline operator Energy Transfer Equity (ETE), roughly 10% of ETE's shares outstanding, to an undisclosed buyer. Enterprise says it will use proceeds of approximately $825.1 million for general operating purposes, including funding of capital projects. The transaction is expected to close January 2012. ETE owns the general partner of Energy Transfer Partners, which has natural gas operations that include more than 17,500 miles of gathering and transportation pipelines, treating and...

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