- The parent company, ETP, operates more than 62,500 miles of natural-gas and natural-gas liquids pipelines.
- Energy Transfer is currently in the midst of building the controversial Dakota Access Pipeline, which is facing protests from the Standing Rock Sioux tribe and environmental activists. That pipeline is scheduled to begin moving oil in May from North Dakota to a terminal in Illinois.
- Energy Transfer Partners, which owns about 20% of Sunoco shares, is one of four publicly traded partnerships in the Energy Transfer family; the others are Energy Transfer Equity LP and Sunoco LP.
- The merger will close Friday, and the combined company, headquartered in Dallas, will begin trading Monday on the New York Stock Exchange under the parent company’s current ticker symbol, "ETP."
Energy Transfer to be acquired by Sunoco Logistics (SXL) for 1.5 common units of SXL common stock for each unit of ETP :
- Under the terms of the transaction, ETP unitholders will receive 1.5 common units of SXL for each common unit of ETP they own.
- As SXL will be the acquiring entity, the existing incentive distribution rights provisions in the SXL partnership agreement will continue to be in effect, and Energy Transfer Equity (ETE) will own the incentive distribution rights of SXL following the closing of the transaction. As part of this transaction, ETE has agreed to continue to provide all the incentive distribution right subsidies that are currently in effect with respect to both partnerships. The transaction is expected to be immediately accretive to SXL's distributable cash flow per common unit.
- SXL and ETP expect that the transaction will allow for commercial synergies and costs savings in excess of $200 mln annually by 2019.
- SXL and ETP will hold a joint conference call to discuss the transaction details on Monday, Nov 21, 2016 at 4:00 pm ET.
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