05 October 2012 17:13 [Source: ICIS news]
HOUSTON (ICIS)--Sunoco and Energy Transfer Partners (ETP) have completed their $5.3bn (€4.1bn) merger, the companies said on Friday.
Sunoco shareholders will receive 50% of the merger consideration in cash and 50% in ETP common units.
The total consideration to be paid in cash will be about $2.6bn and the total consideration to be paid in equity will be 54,971,724 ETP common units, the companies said.
Effective with the opening of the market on Friday, Sunoco ceased to be a publicly traded company and its common stock discontinued trading on the New York Stock Exchange.
($1 = €0.77)
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