Enterprise Products Partners Just Raised $100M from Itself

Enterprise Products Partners is a very big midstream company (pipelines and processing plants). They are the builder of the Appalachia-to-Texas Express (ATEX) ethane pipeline, which stretches from the Marcellus all the way to the Gulf Coast. Enterprise joins a list of companies doing creative things to bring cash through the door. On Monday, Enterprise announced that one division (or affiliate) of the company has purchased 3.2 million “units” (think shares of stock) in another division–bringing in $100 million that Enterprise will use “to fund a portion of its growth capital investments and for general company purposes.” That is, one set of investors just handed over $100 million to another set of investors in essentially the same company. Kind of mind-bender…

Please Login to view this content. (Not a member? Join Today!)
Password Reset
Please enter your e-mail address. You will receive a new password via e-mail.