9 slides from Enterprise Products Partners L.p's merger presentation, Sep 7, 2010
Slide 1: EPD and EPE Merger Announcement
Enterprise Products Partners L.P. ("EPD") and Enterprise GP Holdings L.P. ("EPE") Merger Announcement September 7, 2010
Slide 2: Investor Notice
Investor Notice In connection with the proposed merger, a registration statement of EPD, which will include a proxy statement of EPE and other materials, will be filed with the Securities and Exchange Commission ("SEC"). INVESTORS AND SECURITY HOLDERS ARE URGED TO CAREFULLY READ THE REGISTRATION STA
Slide 3: Forward Looking Statement
Forward Looking Statement This presentation 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 EPD or EPE expects, believes or anticipates will or may occur in the
Slide 4: Transaction Summary
Transaction Summary Enterprise Products Partners L.P. (NYSE: EPD) and Enterprise GP Holdings L.P. (NYSE: EPE) have agreed to merge. EPD will acquire all outstanding EPE units through a unit-for-unit exchange whereby EPE unitholders would receive 1.50 EPD units for each EPE unit Transaction value: ap
Slide 5: Simplifies Ownership Structure
Simplifies Ownership Structure Current Ownership Structure Post Merger Ownership Structure
Slide 6: Strategic Rationale and Benefits to EPD
Strategic Rationale and Benefits to EPD Lowers EPD's long-term cost of capital by permanently cancelling EPD GP's incentive distribution rights Enhances cash accretion from investments in organic growth projects and acquisitions Allows EPD to maintain its competitive position when pursuing growth op
Slide 7: Benefits to EPE Unitholders
Unit-for-unit exchange provides EPE unitholders with a value premium of approximately 16% based on closing prices of EPE and EPD units on September 3, 2010 Provides EPE with a substantial increase in distributions of approximately 54% based on EPE and EPD cash distributions paid in August 2010 EPD's
Slide 8: EPCO Distribution Waiver
EPCO Distribution Waiver E Distributions Waived for EPD Common Units Four Quarters Paid in Subject to Waiver 2011 30,610,000 2012 26,130,000 2013 23,700,000 2014 22,560,000 2015 17,690,000 Thereafter 0 © Allrights reserved. Enterprise Products Partners L.P. and Enterprise GP Holdings L.P. 8
Slide 9: Key Transaction Steps and Timeline
Key Transaction Steps and Timeline September 2010 Executed merger and related agreements September 3rd File joint registration statement and S-4 / Proxy December 2010 Conduct EPE unitholder meeting Close Merger Merger agreement may be terminated by either party if not closed on or prior to December