Enterprise Products Partners L.P. today announced that it has agreed to sell 22,762,636 Energy Transfer Equity, L.P. 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.
Enterprise Products Partners L.P. is the largest publicly traded partnership and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Enterprise’s assets include approximately: 50,000 miles of onshore and offshore pipelines; 192 million barrels of storage capacity for NGLs, refined products and crude oil; and 8 billion cubic feet of natural gas storage capacity. Services include: natural gas transportation, gathering, processing and storage; NGL fractionation, transportation, storage, and import and export terminaling; crude oil and refined products storage, transportation and terminaling; offshore production platform; petrochemical transportation and storage; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems and in the Gulf of Mexico. Additional information is available at www.enterpriseproducts.com.
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