SUNOCO LOGISTICS AND ENERGY TRANSFER PARTNERS ANNOUNCE FORM S-4
REGISTRATION STATEMENT DECLARED EFFECTIVE BY SEC
Dallas, TX & Newtown Square, PA. March 24, 2017 Sunoco Logistics Partners L.P. (NYSE: SXL) and
Energy Transfer Partners, L.P. (NYSE: ETP) today announced that SXLs Registration Statement on Form S-4 has been declared effective by the Securities and Exchange Commission (SEC) and
that ETP has filed a definitive proxy statement with the SEC for the special meeting of its unitholders to vote on the previously announced merger transaction between SXL and ETP.
The special meeting of ETP unitholders will be held on April 26, 2017, at 10:00 a.m. local time, at Hilton Dallas Park Cities Hotel, 5954 Luther Lane,
Dallas, Texas 75225, Miramar Conference Room. All ETP common unitholders of record as of the close of business on February 27, 2017, which is the record date for the special meeting, will be entitled to vote their common units at the special
meeting. The approval of the proposal to adopt the merger agreement requires the affirmative vote of holders of at least a majority of the outstanding ETP common units.
Pursuant to the terms of the merger agreement, upon completion of the
merger, ETP unitholders will receive 1.5 common units of SXL for each common unit of ETP
they own. This equates to a 10% premium to the volume weighted average price of ETPs common units for the 30 trading days immediately prior to the announcement of the transaction.
SXL and ETP expect the transaction to close in April 2017, subject to certain closing conditions under the terms of the merger agreement, including receipt of
the required approval by ETPs unitholders and the satisfaction of other customary closing conditions.
Energy Transfer Partners, L.P. (NYSE:
ETP) is a master limited partnership that owns and operates one of the largest and most diversified portfolios of energy assets in the United States. ETPs subsidiaries include Panhandle Eastern Pipe Line Company, LP (the successor of
Southern Union Company) and Lone Star NGL LLC, which owns and operates natural gas liquids storage, fractionation and transportation assets. In total, ETP currently owns and operates more than 62,500 miles of natural gas and natural gas liquids
pipelines. ETP also owns the general partner, 100% of the incentive distribution rights, and approximately 67.1 million common units in Sunoco Logistics Partners L.P. (NYSE: SXL), which operates a geographically diverse portfolio of crude oil
and refined products pipelines, terminalling and crude oil acquisition and marketing assets. ETPs general partner is owned by Energy Transfer Equity, L.P. For more information, visit the Energy Transfer Partners, L.P. website at
Sunoco Logistics Partners L.P. (NYSE: SXL) is a master limited partnership that owns and operates a logistics business
consisting of a geographically diverse portfolio of complementary pipeline, terminalling, and acquisition and marketing assets which are used to facilitate the purchase and sale of crude oil, natural gas liquids, and refined products. SXLs
general partner is a consolidated subsidiary of Energy Transfer Partners, L.P. (NYSE: ETP). For more information, visit the Sunoco Logistics Partners L.P. website at www.sunocologistics.com.