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Enterprise Agrees to Sell 22.8 Million Energy Transfer Equity Common Units for $825M

By Insider Scoop
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Courtesy of Benzinga.

Enterprise Products Partners L.P. (NYSE: EPD) today announced that it has agreed to sell 22,762,636 Energy Transfer Equity, L.P. (NYSE: ETE) common units owned by an Enterprise subsidiary in a private transaction to certain purchasers. Proceeds of approximately $825.1 million from the sale will be used by Enterprise for general partnership purposes, including funding growth capital projects. Closing of the transaction is scheduled to occur in January 2012.

For more Benzinga, visit Benzinga Professional Service, Value Investor, and Stocks Under $5.

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