Energy Transfer ElPaso

Energy Transfer ElPaso

Value: Undisclosed

ETP owns and operates a diversified portfolio of energy assets. ETP is also the fourth largest retailer of propane in the United States, serving more than 700,000 customers from coast to coast.

CrossCountry Energy operates natural gas pipeline businesses in North America. The company provides energy transportation services to West and East markets through its bi-directional system. Its customers include electric utilities, independent power producers, cogeneration facilities, marketers, electric power generators, industrial end-users, municipal generators, and local distribution companies.

El Paso Corporation provides natural gas and related energy products and is one of North America’s largest natural gas producers. The company owns North America’s largest natural gas pipeline system which goes from border-to-border and coast-to-coast.

El Paso alleged that the acquisition of CrossCountry by Energy Transfer Partners triggered a right of first refusal by El Paso to acquire CrossCountry’s 50% interest in a joint venture in which El Paso held the other 50%. Following Cypress’ deposition testimony, El Paso withdrew its complaint and stipulated that the ROFR had never been triggered.