Energy Transfer LP (NYSE: ET) and Enable Midstream Partners, LP
(NYSE: ENBL) today announced that following the Securities and
Exchange Commission declaring effective the Registration Statement
on Form S-4 on April 7, 2021, the two largest Enable unitholders
have delivered their written consents to approve the merger of
Enable into Energy Transfer. These unitholders, CenterPoint Energy,
Inc. (CNP) and OGE Energy Corp (OGE), own approximately 79% of
Enable’s outstanding common units. While the consents of CNP and
OGE are sufficient to approve the transaction, Enable is requesting
all its common unitholders approve the merger and other proposals
outlined in the Registration Statement by executing and returning
the written consent furnished with the filing. Energy Transfer and
Enable expect the transaction to close in mid-2021, subject to the
satisfaction of customary closing conditions, including
Hart-Scott-Rodino clearance.
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About Energy Transfer
Energy Transfer LP (NYSE: ET) owns and operates one of the
largest and most diversified portfolios of energy assets in the
United States, with a strategic footprint in all of the major
domestic production basins. ET is a publicly traded limited
partnership with core operations that include complementary natural
gas midstream, intrastate and interstate transportation and storage
assets; crude oil, NGL and refined product transportation and
terminalling assets; NGL fractionation; and various acquisition and
marketing assets. ET, through its ownership of Energy Transfer
Operating, L.P., also owns Lake Charles LNG Company, as well as the
general partner interests, the incentive distribution rights and
28.5 million common units of Sunoco LP (NYSE: SUN), and the general
partner interests and 46.1 million common units of USA Compression
Partners, LP (NYSE: USAC). For more information, visit the Energy
Transfer LP website at https://www.energytransfer.com/.
About Enable
Enable (NYSE: ENBL) owns, operates and develops strategically
located natural gas and crude oil infrastructure assets. Enable’s
assets include approximately 14,000 miles of natural gas, crude
oil, condensate and produced water gathering pipelines,
approximately 2.6 Bcf/d of natural gas processing capacity,
approximately 7,800 miles of interstate pipelines (including
Southeast Supply Header, LLC of which Enable owns 50%),
approximately 2,200 miles of intrastate pipelines and seven natural
gas storage facilities comprising 84.5 billion cubic feet of
storage capacity. For more information, visit
https://www.enablemidstream.com/.
Forward-Looking Statements
This release includes “forward-looking” statements.
Forward-looking statements are identified as any statement that
does not relate strictly to historical or current facts. Statements
using words such as “anticipate,” “believe,” “intend,” “project,”
“plan,” “expect,” “continue,” “estimate,” “goal,” “forecast,” “may”
or similar expressions help identify forward-looking statements.
Energy Transfer and Enable cannot give any assurance that
expectations and projections about future events will prove to be
correct. Forward-looking statements are subject to a variety of
risks, uncertainties and assumptions. These risks and uncertainties
include the risks that the proposed transaction may not be
consummated or the benefits contemplated therefrom may not be
realized. Additional risks include: the ability to obtain requisite
regulatory approval and the satisfaction of the other conditions to
the consummation of the proposed transaction, the ability of Energy
Transfer to successfully integrate Enable’s operations and
employees and realize anticipated synergies and cost savings, the
potential impact of the announcement or consummation of the
proposed transaction on relationships, including with employees,
suppliers, customers, competitors and credit rating agencies, the
ability to achieve revenue, DCF and EBITDA growth, and volatility
in the price of oil, natural gas, and natural gas liquids. Actual
results and outcomes may differ materially from those expressed in
such forward-looking statements. These and other risks and
uncertainties are discussed in more detail in filings made by
Energy Transfer and Enable with the SEC, which are available to the
public. Energy Transfer and Enable undertake no obligation to
update publicly or to revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Additional Information and Where to Find It
SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT
AND PROXY STATEMENT/PROSPECTUS REGARDING THE TRANSACTION CAREFULLY
WHEN IT BECOMES AVAILABLE. These documents and any other documents
filed by Energy Transfer and Enable with the SEC, may be obtained
free of charge at the SEC’s website, at https://www.sec.gov/. In
addition, investors and security holders will be able to obtain
free copies of the registration statement and the proxy
statement/prospectus by phone, e-mail or written request by
contacting the investor relations department of Energy Transfer at
the number and address set forth below:
Energy Transfer LP 8111 Westchester Drive, Suite 600 Dallas,
Texas 75225
Enable Midstream Partners LP 499 W. Sheridan Ave., Suite 1500
Oklahoma City, OK 73102
No offer or solicitation
This communication relates to a proposed merger (the “Merger”)
between Enable and Energy Transfer. This communication is for
informational purposes only and does not constitute an offer to
sell or the solicitation of an offer to buy any securities or a
solicitation of any vote or approval, in any jurisdiction, pursuant
to the Merger or otherwise, nor shall there be any sale, issuance,
exchange or transfer of the securities referred to in this document
in any jurisdiction in contravention of applicable law. No offer of
securities shall be made except by means of a prospectus meeting
the requirements of Section 10 of the Securities Act of 1933, as
amended.
Participants in the Solicitation
Enable, Energy Transfer, and the directors and executive
officers of their respective general partners, CNP (and their
affiliates), OGE (and their affiliates) may be deemed to be
participants in the solicitation of proxies in respect to the
Merger.
Information regarding the directors and executive officers of
Enable’s general partner is contained in Enable’s 2020 Annual
Report on Form 10-K filed with the SEC on February 24, 2021, and
certain of its Quarterly Reports on Form 10-Q Current Reports on
Form 8-K. You can obtain a free copy of this document at the SEC’s
website at http://www.sec.gov or by accessing Enable’s website at
http://www.enablemidstream.com. Information regarding the executive
officers and directors of Energy Transfer’s general partner is
contained in Energy Transfer’s 2020 Annual Report on Form 10-K
filed with the SEC on February 19, 2021 and certain of its Current
Reports on Form 8-K. You can obtain a free copy of this document at
the SEC’s website at www.sec.gov or by accessing Energy Transfer’s
website at http://www.energytransfer.com.
Investors may obtain additional information regarding the
interests of those persons and other persons who may be deemed
participants in the Merger by reading the consent solicitation
statement/prospectus regarding the Merger when it becomes
available. You may obtain free copies of this document as described
above.
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version on businesswire.com: https://www.businesswire.com/news/home/20210412005758/en/
Energy Transfer LP Investors Bill Baerg, Brent Ratliff, Lyndsay
Hannah (214) 981-0795 investorrelations@energytransfer.com
Media Vicki Granado, Lisa Coleman (214) 840-5820
media@energytransfer.com
Enable Midstream Partners Investors Matt Beasley (405)
558-4600
Media Leigh Ann Williams (405) 553-6947
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