Energy Transfer Pays Partner $3.75B For Sunoco Holding Co.

Law360, New York (March 21, 2013, 2:27 PM EDT) -- Energy Transfer Partners LP has acquired 100 percent of a holding company from its general partner for $3.75 billion, completing the ownership transfer of Sunoco Inc. and Southern Union Co., the Dallas-based energy master limited partnership said Thursday.

ETP will buy out general partner Energy Transfer Equity LP's 60 percent stake in ETP Holdco Corp. The holding company owns ETP's equity interests in Sunoco and Southern Union. In return, ETP will pay the general partner $2.35 billion in newly issued ETP common units and $1.4 billion...
To view the full article, register now.