Sunoco Logistics Partners and Energy Transfer Partners Announce Successful Completion of Merger
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170428005572/en/
At the effective time of the merger, each ETP common unit converted into the right to receive 1.5 SXL common units. Based on the ETP units outstanding, SXL issued approximately 845 million SXL common units to ETP unitholders. The outstanding ETP Class E units, Class G units, Class I units and Class K units at the effective time of the merger were converted into an equal number of newly created classes of SXL units, with the same rights, preferences, privileges, duties and obligations as such classes of ETP units had immediately prior to the closing of the merger. Additionally, the outstanding SXL common units and SXL Class B units owned by ETP at the effective time of the merger were cancelled.
As part of the completion of the merger,
This press release includes “forward-looking” statements.
Forward-looking statements are identified as any statement that does not
relate strictly to historical or current facts. Statements using words
such as “anticipate,” “believe,” “intend,” “project,” “plan,” “expect,”
“continue,” “estimate,” “goal,” “forecast,” “may” or similar expressions
help identify forward-looking statements. SXL and ETP cannot give any
assurance that expectations and projections about future events will
prove to be correct. Forward-looking statements are subject to a variety
of risks, uncertainties and assumptions. These risks and uncertainties
include the risks that the proposed transaction may not be consummated
or the benefits contemplated therefrom may not be realized. Additional
risks include: the ability to obtain requisite regulatory and unitholder
approval and the satisfaction of the other conditions to the
consummation of the proposed transaction, the ability of SXL to
successfully integrate ETP’s operations and employees and realize
anticipated synergies and cost savings, the potential impact of the
announcement or consummation of the proposed transaction on
relationships, including with employees, suppliers, customers,
competitors and credit rating agencies, the ability to achieve revenue,
DCF and EBITDA growth, and volatility in the price of oil, natural gas,
and natural gas liquids. Actual results and outcomes may differ
materially from those expressed in such forward-looking statements.
These and other risks and uncertainties are discussed in more detail in
filings made by SXL and ETP with the
The information contained in this press release is available on SXL’s website at www.sunocologistics.com.
Helen Ryoo, Lyndsay Hannah, Brent Ratliff, 214-981-0795
Vicki Granado, 214-981-0761
Peter Gvazdauskas, 215-977-6322
Jeff Shields, 215-977-6056