HOUSTON -- (Business Wire)
Duncan Energy Partners L.P. (NYSE: DEP) (“DEP”) and Enterprise Products
Partners L.P. (NYSE: EPD) (“EPD”) today announced that the DEP
unitholders have approved the merger of DEP with a subsidiary of EPD.
Over 99.9 percent of the DEP common units that voted were cast in favor
of the merger, representing approximately 77.3 percent of DEP’s total
outstanding common units as of the record date. Over 99.6 percent of the
votes cast by the “Duncan Unaffiliated Unitholders” (as defined in the
agreement and plan of merger) were also cast in favor of the merger.
The partnerships expect the merger to be completed later today on
September 7, 2011, resulting in DEP unitholders being entitled to
receive 1.01 EPD common units for each DEP common unit they own. Cash
will be paid to DEP unitholders in accordance with the merger agreement
in lieu of any fractional units they otherwise would have been entitled
to receive. As a result of the merger completion, common units of DEP
will cease trading at the close of today’s business. EPD common units
will continue to be traded on the New York Stock Exchange under the
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. EPD’s assets include approximately
50,200 miles of onshore and offshore pipelines; approximately 192
million barrels of storage capacity for NGLs, refined products and crude
oil; and 27 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. For additional information, visit www.enterpriseproducts.com.
This press release includes “forward-looking statements” as defined
by the Securities and Exchange Commission. All statements, other than
statements of historical fact, included herein that address activities,
events, developments or transactions that EPD expects, believes or
anticipates will or may occur in the future, including anticipated
benefits and other aspects of such activities, events, developments or
transactions, are forward-looking statements.These
forward-looking statements are subject to risks and uncertainties that
may cause actual results to differ materially, including required
approvals by regulatory agencies, the possibility that the anticipated
benefits from such activities, events, developments or transactions
cannot be fully realized, the possibility that costs or difficulties
related thereto will be greater than expected, the impact of competition
and other risk factors included in the reports filed with the Securities
and Exchange Commission by EPD.Readers are cautioned not to
place undue reliance on these forward-looking statements, which speak
only as of their dates.Except as required by law, EPD does not
intend to update or revise its forward-looking statements, whether as a
result of new information, future events or otherwise.
Duncan Energy Partners L.P.
713-381-6812 or 866-230-0745
Source: Duncan Energy Partners L.P.
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