Enterprise Products Partners agreed yesterday to buy Teppco Partners LP for approximately US$3.3B, thus forming the biggest U.S. energy partnership. Enterprise Products Partners boasted that the takeover will provide it with a larger footprint, increase its earnings starting in 2010 and will yield at least US$20M in cost-saving.
Combined, the partnerships will own nearly 48000 miles of pipelines, including 22,000 miles of natural gas, and will give it access to the largest producing basins of gas liquids and crude oil in the U.S.
Post a Comment