Pipeline operator Energy Transfer Equity (ETE) will drop down its interest in Southern Union...

|About: Energy Transfer Equity, L.P. (ETE)|By:, SA News Editor

Pipeline operator Energy Transfer Equity (ETE) will drop down its interest in Southern Union (SUG), into a new unit called ETP Holdco that will be 60%-controlled by ETE and 40%-controlled related firm Energy Transfer Partners (ETP). The dropdown will take place when ETP closes its $5.35B of Southern Union, with Holdco also taking on Southern's assets. (PR)