Jan 26 (Reuters) - Pipeline company Energy Transfer Partners LP said on Monday it would buy affiliate Regency Energy Partners LP for about $11 billion, the latest example of master limited...
Jan 26 (Reuters) - Pipeline operator Energy Transfer Partners LP said it would buy affiliate Regency Energy Partners LP in a deal valued at about $18 billion, including debt.
Regency Energy Partners LP RGNC received authorization to list its units on the New York Stock Exchange, where they began trading Tuesday under their new ticker
and about $35 million in EBITDA, or $215 million annualized. This suggests that the multiple Energy Transfer and Regency RGNC paid for the acquisition is closer to 9 times EBITDA than the 11 times multiple we had initially assumed. Solid results from
Regency RGNC reported solid second-quarter earnings and raised its distribution for the first time in three years. The partnership generated
realize additional, leveraged upside on Southern Union's assets by dropping them down to Energy Transfer Partners or Regency RGNC and collecting accelerating incentive distributions over time. However, the higher offer knocks $1 off our merger-case fair
model it, we would be unsurprised to see ETE also announce a drop-down of Southern Union Gas Services to either ETP or Regency RGNC (we think Regency would be the better fit, but ETP has right of first refusal). SUGS could easily command at least $1
Union's west Texas gas gathering and processing assets as another likely drop-down, which we think is best suited to Regency RGNC . Based on our estimate for 2012 EBITDA, a drop-down at an 8 times multiple could garner another $1.2 billion for ETE
Energy Transfer Partners ETP and Regency Energy Partners RGNC announced this morning that their Lone Star joint venture will construct a new 530-mile natural gas liquids pipeline across Texas
see one or more of Southern Union’s assets getting dropped down to Energy Transfer Partners ETP or Regency Energy Partners RGNC , potentially fueling future growth at the MLPs. On the financial side, Energy Transfer will fund the acquisition by issuing