ETE Merging Sunoco Logistics and Energy Transfer Partners

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Energy Transfer Equity (ETE) is a big and (on paper) complex company with a number of subsidiaries. Roughly speaking, ETE is the mother ship/parent, and under it are two subsidiaries–Regency Energy Partners and Energy Transfer Partners (ETP)–the company building the Dakota Access Pipeline. Under Energy Transfer Partners are other divisions and subsidiaries–notably Sunoco Logistics Partners, which is the builder of the Mariner pipeline projects. (Click on the org chart to view how the company is arranged.) Yesterday ETE announced that Sunoco LP is swallowing up ETP in a ~$20 billion, stock-swap deal. The confusing part is that although Sunoco LP is buying ETP, the new company will be called ETP and will be run by ETP’s current management…

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