8-KOther EventsExhibits & Filings

ENTERPRISE PRODUCTS PARTNERS L.P. 8-K Report, Corporate Update (Jun 1, 2015)

Filed June 1, 2015For Securities:EPDEPDU

Summary

Enterprise Products Partners L.P. (EPD) announced a significant acquisition on June 1, 2015, detailing the execution of agreements to purchase EFS Midstream LLC for $2.15 billion. This strategic move involves acquiring all member interests from affiliates of Pioneer Natural Resources Company and Reliance Industries Limited. The transaction is structured with a $1.15 billion payment at closing and a remaining $1.0 billion due within one year, subject to regulatory approvals and closing conditions. The deal is anticipated to close in the third quarter of 2015, indicating a near-term integration into EPD's operations.

Key Highlights

  • 1EPD to acquire EFS Midstream LLC for $2.15 billion.
  • 2Acquisition to be paid in two installments: $1.15 billion at closing and $1.0 billion within one year.
  • 3Transaction is subject to customary regulatory approvals and closing conditions.
  • 4Expected closing date for the acquisition is the third quarter of 2015.
  • 5EFS Midstream LLC is being acquired from affiliates of Pioneer Natural Resources Company and Reliance Industries Limited.

Frequently Asked Questions

This 8-K filing serves to announce Enterprise Products Partners L.P.'s execution of agreements to acquire EFS Midstream LLC for $2.15 billion. It provides key details regarding the transaction's structure, payment terms, and expected closing timeline.

The acquisition will be financed through a combination of cash at closing ($1.15 billion) and a deferred payment ($1.0 billion) due within one year of closing. Specific financing details beyond these installments are not provided in this filing, but investors can infer EPD will manage its capital structure to accommodate this significant purchase.

The transaction is expected to close in the third quarter of 2015, pending the satisfaction of customary regulatory approvals and closing conditions.

While this filing does not provide specific details about EFS Midstream LLC's operations, the acquisition signifies EPD's intent to expand its midstream assets. Investors should look to subsequent filings and investor communications for a more detailed strategic rationale and the expected impact on EPD's business and profitability.