Energy Transfer Equity & Southern Union File Application with Missouri Public Service Commission as Step toward Completion of...
July 13 2011 - 6:41PM
Business Wire
Energy Transfer Equity, L.P. (NYSE:ETE) and Southern
Union Company (NYSE:SUG) today announced they have filed a
joint application with the Public Service Commission of the State
of Missouri (Commission), requesting an order from the Commission
authorizing SUG to take certain actions to allow ETE to acquire the
equity interests of SUG, including its subsidiaries. This request
pertains to the Amended and Restated Agreement and Plan of Merger
dated July 4, 2011 by and between ETE and SUG, and upon approval
from the Commission, will represent another positive step toward
completion of the merger that is scheduled to close in the first
quarter of 2012.
Energy Transfer Equity, L.P. (NYSE:ETE) is a
publicly traded partnership, which owns the general partner and 100
percent of the incentive distribution rights (IDRs) of Energy
Transfer Partners, L.P. (ETP) and approximately 50.2 million ETP
limited partner units; and owns the general partner and 100 percent
of the IDRs of Regency Energy Partners LP (RGNC) and approximately
26.3 million RGNC limited partner units. For more information,
visit the Energy Transfer Equity, L.P. web site at www.energytransfer.com.
Southern Union Company (NYSE:SUG), headquartered in
Houston, is one of the nation’s leading diversified natural gas
companies, engaged primarily in the transportation, storage,
gathering, processing and distribution of natural gas. The company
owns and operates one of the nation’s largest natural gas pipeline
systems with more than 20,000 miles of gathering and transportation
pipelines and one of North America’s largest liquefied natural gas
import terminals, along with serving more than half a million
natural gas end-user customers in Missouri and Massachusetts. For
further information, visit www.sug.com.
Forward-Looking Statements
This press release may include certain statements concerning
expectations for the future, including statements regarding the
anticipated benefits and other aspects of the proposed transactions
described above, that are forward-looking statements as defined by
federal law. Such forward-looking statements are subject to a
variety of known and unknown risks, uncertainties, and other
factors that are difficult to predict and many of which are beyond
the control of the management teams of ETE or SUG. Among those is
the risk that conditions to closing the transactions are not met or
that the anticipated benefits from the proposed transactions cannot
be fully realized. An extensive list of factors that can affect
future results are discussed in the reports filed with the
Securities and Exchange Commission by ETE and SUG. Neither ETE nor
SUG undertakes any obligation to update or revise any
forward-looking statement to reflect new information or events.
Additional Information
In connection with the transaction, ETE and SUG will file a
joint proxy statement / prospectus and other documents with the
SEC. Investors and security holders are urged to carefully read
the definitive joint proxy statement / prospectus when it becomes
available because it will contain important information regarding
ETE, SUG and the transaction.
A definitive joint proxy statement / prospectus will be sent to
stockholders of SUG seeking their approval of the transaction.
Investors and security holders may obtain a free copy of the
definitive joint proxy statement / prospectus (when available) and
other documents filed by ETE and SUG with the SEC at the SEC’s web
site, www.sec.gov. The definitive
joint proxy statement / prospectus (when available) and such other
documents relating to ETE may also be obtained free of charge by
directing a request to Energy Transfer Equity, L.P., Attn: Investor
Relations, 3738 Oak Lawn Avenue, Dallas, Texas 75219, or from ETE’s
web site, www.energytransfer.com. The
definitive joint proxy statement / prospectus (when available) and
such other documents relating to SUG may also be obtained free of
charge by directing a request to Southern Union Company, Attn:
Investor Relations, 5444 Westheimer Road, Houston, Texas 77056, or
from SUG’s web site, www.sug.com.
ETE, SUG and their respective directors and executive officers
may, under the rules of the SEC, be deemed to be “participants” in
the solicitation of proxies in connection with the proposed
transaction. Information concerning the interests of the persons
who may be “participants” in the solicitation will be set forth in
the joint proxy statement / prospectus when it becomes
available.
The information contained in this press release is available on
the ETE web site at www.energytransfer.com.
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