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Stock Market & Financial Investment News

News Breaks
June 18, 2012
08:19 EDTSUN, ETE, SUG, SXL, ETPETE to drop down Southern Union assets into ETP-controlled entity
Energy Transfer Equity (ETE) and Energy Transfer Partners (ETP) announced that ETE plans to drop down its interest in Southern Union Company (SUG) into an ETP-controlled entity, which will also include assets to be acquired in the recently announced merger between Sunoco (SUN) and ETP. Concurrent with the closing of the Sunoco merger, ETE will contribute its interest in SUG into an ETP-controlled entity in exchange for a 60% equity interest in the new entity, to be called ETP Holdco Corporation. In conjunction with ETE’s contribution, ETP will contribute its interest in Sunoco to HoldCo and will retain a 40% equity interest in HoldCo. Prior to the contribution of Sunoco to HoldCo, Sunoco’s interests in Sunoco Logistics Partners (SXL) will be transferred to ETP. The transaction has been approved by the boards of directors of ETE’s general partner and ETP’s general partner and will not require the approval of Sunoco’s board. In addition, Energy Transfer has reviewed its plans with all three credit rating agencies and believes that the new structure enhances the overall credit profile of ETE, ETP and SUG and furthers ETP’s commitment to maintaining investment grade credit ratings. The transaction will not require ETE or ETP unitholder approval and no regulatory issues are expected.
News For ETE;ETP;SUG;SUN;SXL From The Last 14 Days
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March 26, 2015
10:04 EDTSUNOn The Fly: Analyst Initiation Summary
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05:47 EDTSUNSunoco initiated with a Buy at Goldman
Goldman Sachs calls Sunoco a "unique" master limited partnership opportunity since the company benefits from lower fuel prices. The firm started shares with a Buy rating and $60 price target.
March 23, 2015
09:31 EDTETP, SUNSunoco, ETP announce dropdown of portion of ETP's retail business to SUN
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