DALLAS--(BUSINESS WIRE)--May 17, 2018--
Energy Transfer Equity, L.P. (NYSE: ETE) announced today that the
Delaware Court of Chancery has ruled in favor of ETE in the litigation
related to the issuance by ETE of convertible preferred units that
occurred in March 2016. In an opinion issued May 17, 2018, the Court
denied the plaintiff’s request for rescission of the transaction and
associated injunctive relief. Accordingly, the convertible preferred
units will convert into common units on May 21, 2018 in accordance with
the previously announced terms of the convertible preferred units.
Energy Transfer Equity, L.P. (NYSE: ETE) is a master limited partnership
that owns the general partner and 100% of the incentive distribution
rights (IDRs) of Energy Transfer Partners, L.P. (NYSE: ETP) and Sunoco
LP (NYSE: SUN). ETE also owns Lake Charles LNG Company and the general
partner of USA Compression Partners, LP (NYSE: USAC). On a consolidated
basis, ETE’s family of companies owns and operates a diverse portfolio
of natural gas, natural gas liquids, crude oil and refined products
assets, as well as retail and wholesale motor fuel operations and LNG
terminalling. For more information, visit the Energy Transfer Equity,
L.P. website at www.energytransfer.com.
This news release may include certain statements concerning expectations
for the future that are forward-looking statements as defined by federal
law. Such forward-looking statements are subject to a variety of known
and unknown risks, uncertainties, and other factors that are difficult
to predict and many of which are beyond management’s control. An
extensive list of factors that can affect future results are discussed
in the Partnership’s Annual Report on Form 10-K and other documents
filed from time to time with the Securities and Exchange Commission. The
Partnership undertakes no obligation to update or revise any
forward-looking statement to reflect new information or events.
The information contained in this press release is available at www.energytransfer.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180517006109/en/
Source: Energy Transfer Equity, L.P.
Helen Ryoo, Lyndsay Hannah, Brent Ratliff,