By OGJ editors
HOUSTON, May 2 -- Enterprise Products Partners LP agreed to acquire Duncan Energy Partners LP through a unit-for-unit exchange worth an estimated $2.5 billion.
Enterprise Products Partners' parent, Enterprise Products Operating LP, in 2006 spun off Duncan as a separate entity that still held interest in some of Enterprise's midstream assets.
In February, Enterprise Products announced a proposal to again acquire DEP. A definitive agreement was announced on Apr. 29.
Enterprise Products owns Duncan’s general partner and about 58% of Duncan’s common units.
Both Enterprise Products Partners and Duncan Energy Partners are publicly traded partnerships that provide midstream services.
Photo from TotalEnergies.
