TEPPCO Partners, L.P. to Suspend Its Distribution Reinvestment Plan
02 July 2009 - 11:34AM
Business Wire
TEPPCO Partners, L.P. (NYSE:TPP) today announced that it has
suspended the opportunity for investors to acquire additional
limited partner units under the TEPPCO Partners, L.P. Distribution
Reinvestment Plan. The suspension is pursuant to the terms of the
definitive merger agreement with Enterprise Products Partners L.P.
announced on June 29, 2009, and is expected to remain in place
pursuant to such terms while the transaction is pending.
TEPPCO Partners, L.P. is a publicly traded energy logistics
partnership with operations that span much of the continental
United States. TEPPCO owns and operates an extensive network of
assets that facilitate the movement, marketing, gathering and
storage of various commodities and energy-related products. The
partnership's midstream network is comprised of approximately
12,500 miles of pipelines that gather and transport refined
petroleum products, crude oil, natural gas, liquefied petroleum
gases (LPGs) and natural gas liquids, including one of the largest
common carrier pipelines for refined petroleum products and LPGs in
the United States. TEPPCO's storage assets include approximately 27
million barrels of capacity for refined petroleum products and LPGs
and about 14 million barrels of capacity for crude oil. TEPPCO also
owns a marine transportation business that transports refined
petroleum products, crude oil and lube products primarily on the
United States inland and Intracoastal Waterway systems, and in the
Gulf of Mexico. For more information, visit TEPPCO's website,
www.teppco.com. Texas Eastern
Products Pipeline Company, LLC, the general partner of TEPPCO
Partners, L.P., is owned by Enterprise GP Holdings L.P.
This release includes �forward-looking statements� as defined by
the SEC. All statements, other than statements of historical fact,
included herein that address activities, events or developments
that TEPPCO expects, believes or anticipates will or may occur in
the future, including with respect to the suspension of its
distribution reinvestment plan, are forward-looking statements.
These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially,
including risk factors included in the reports filed with the SEC
by TEPPCO. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of their
dates. Except as required by law, TEPPCO does not intend to update
or revise its forward-looking statements, whether as a result of
new information, future events or otherwise.
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