ENERGY TRANSFER EQUITY, L.P. FILES (8-K) Disclosing Other Events, Financial Statements and Exhibits
(Edgar Glimpses Via Acquire Media NewsEdge) Item 8.01. Other Events.
On December 23, 2013, Energy Transfer Equity, L.P. (the "Partnership") announced
that the board of directors of its general partner has approved (i) a
two-for-one split of the Partnership's outstanding common units (the "Unit
Split"), (ii) a $1 billion common unit repurchase program (the "Repurchase
Program"), and (iii) the purchase of $400 million common units of Regency Energy
Partners LP ("RGP"). The Unit Split will be effected by a distribution of one
ETE common unit for each common unit outstanding and held by unitholders of
record at the close of business on January 13, 2014. The Unit Split is expected
to be completed on January 24, 2014. In the Repurchase Program, ETE common units
will be repurchased in the open market at the Partnership's discretion, subject
to market conditions and other factors, and in accordance with applicable
regulatory requirements. The Partnership may commence, suspend or discontinue
purchases of common units under this authorization at any time or periodically
without prior notice and any common units repurchased will be canceled. Finally,
the Partnership has agreed to purchase $400 million of RGP common units as part
of the consideration for RGP's approximately $1.3 billion acquisition of the
midstream business of Eagle Rock Energy Partners. ETE will acquire the RGP units
effective as of, and conditioned on, the closing of that transaction.
A copy of the press release announcing the Unit Split, the Repurchase Program
and the purchase of the RGP common units is attached as Exhibit 99.1 to this
Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
99.1 Press release dated December 23, 2013.
Safe Harbor Statement
Statements contained in this report, or the exhibits to this report, that state
the Partnership's or its management's expectations or predictions of the future
are forward-looking statements intended to be covered by the safe harbor
provisions of federal securities laws. The Partnership's actual results could
differ materially from those projected in such forward-looking statements.
Factors that could affect those results include those mentioned in the documents
that the Partnership has filed with the Securities and Exchange Commission.
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