Affiliate of general partner buys $100M of Enterprise common units

Enterprise Products Partners LP (NYSE: EPD) says that an affiliate of its general partner, which is owned by privately held Enterprise Products Co. (EPCO), purchased 3,225,057 Enterprise common units for approximately $100 million, or $31.01 per unit.

The purchase was executed through Enterprise’s at-the-market (ATM) equity issuance program. EPCO and its affiliates own approximately 35% of Enterprise’s common units, inclusive of this purchase. Enterprise will use the proceeds from this transaction to fund a portion of its growth capital investments and for general company purposes.

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