US Enterprise Products, Duncan Energy to complete NGL merger

07 September 2011 17:11  [Source: ICIS news]

HOUSTON (ICIS)--Duncan Energy Partners and Enterprise Products Partners expect to complete their merger on Wednesday, following overwhelming approval of the deal by Duncan’s unitholders, the US-based companies said.

The Houston-based firms – both providers of midstream services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, refined products and petrochemicals – first announced the merger plan in February.

Under the deal, Duncan unitholders receive 1.01 of Enterprise common units for each Duncan unit, the companies said without disclosing the overall transaction value.

Prior to the merger, Enterprise already owned 100% of the general partner of Duncan Energy Partners and about 58% of the outstanding common units of Duncan Energy Partners.

Duncan’s common units – ticker symbol DEP - will cease trading at the close of business on Wednesday on the New York Stock Exchange.

By: Stefan Baumgarten
+1 713 525 2653

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