Energy Transfer Equity Announces Two-for-One Unit Split
May 28 2015 - 5:03PM
Business Wire
Energy Transfer Equity, L.P. (NYSE: ETE) (the “Partnership”)
today announced a two-for-one split of the Partnership’s
outstanding common units (the “Unit Split”). The Unit Split will be
effected by a distribution of one common unit for each common unit
outstanding and held by unitholders of record at the close of
business on July 15, 2015. The Unit Split is expected to be
completed on July 24, 2015.
Following completion of the Unit Split, the Partnership expects
to have 1,078,468,046 common units outstanding. The Partnership’s
distribution levels will be adjusted proportionately.
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), approximately 23.6 million ETP common units,
approximately 81.0 million ETP Class H Units, which track 90% of
the underlying economics of the general partner interest and IDRs
of Sunoco Logistics Partners L.P. (NYSE: SXL), and 100 ETP Class I
Units. On a consolidated basis, ETE’s family of companies owns and
operates approximately 71,000 miles of natural gas, natural gas
liquids, refined products, and crude oil pipelines.
Statements about the Unit Split may be forward-looking
statements as defined under federal law. These forward-looking
statements rely on a number of assumptions concerning future events
and are subject to a number of uncertainties and factors, many of
which are outside the control of ETE, and a variety of risks that
could cause results to differ materially from those expected by
management of ETE. ETE undertakes no obligation to update or revise
forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating
results over time.
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version on businesswire.com: http://www.businesswire.com/news/home/20150528006671/en/
Investor Relations:Energy TransferBrent Ratliff,
214-981-0700orLyndsay Hannah, 214-840-5477orMedia Relations:Granado
Communications GroupVicki Granado, 214-599-8785Cell:
214-498-9272
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