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Energy Transfer Partners, L.P. Message Board

  • bjfcpainc bjfcpainc Apr 28, 2014 3:17 PM Flag

    Credit Suisse makes an interest case about synergies of SUSS with Sunoco

    I own ETE so from our perspective more shares issued and higher distribution potential at ETP translates well for GP owners.

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    • bjf - Then you will be disappointed. ETE is going to trade some milions of units for the Susser IDRs and is waiving $35M a year in IDRs from ETP (almost a perfect offset for the shares issued to buy Susser). Then ETP drops down and gets rid of the Sunoco stations and sells its 50% interest in SUSS. This wil ultimately result in the need for about $1-2B less in cash once all is sold off.

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