Energy Transfer To Acquire Crestwood - Quick Facts

(RTTNews) - Energy Transfer LP (ET) and Crestwood Equity Partners LP (CEQP) have entered into a definitive merger agreement pursuant to which Energy Transfer will acquire Crestwood in an all-equity deal valued at approximately $7.1 billion, including the assumption of $3.3 billion of debt.

Crestwood common unitholders will receive 2.07 Energy Transfer common units for each Crestwood common unit. Upon closing, Crestwood common unitholders are expected to own approximately 6.5% of Energy Transfer's outstanding common units.

The transaction is expected to be immediately accretive to distributable cash flow per unit as well as neutral to Energy Transfer's leverage metrics upon closing. Energy Transfer expects to achieve at least $40 million of annual run-rate cost synergies.