Enterprise Products and Oiltanking Partners Complete Merger

HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD, “Enterprise”) and Oiltanking Partners, L.P. (NYSE: OILT, “Oiltanking Partners”) today announced the completion of the merger of Oiltanking Partners with a subsidiary of Enterprise after Oiltanking Partners unitholders approved the merger during a unitholder meeting held today in Houston. Approximately 99.87 percent of the Oiltanking Partners common units that voted were cast in favor of the merger, including 54,799,604 (approximately 66 percent of the outstanding Oiltanking Partners common units) owned by Enterprise Products Operating LLC, a wholly owned subsidiary of Enterprise. The total number of units that voted in favor of the merger represents approximately 92.18 percent of Oiltanking Partners’ total outstanding common units as of the record date. Excluding the units owned by Enterprise, approximately 99.54 percent of the Oiltanking common units that voted were cast in favor of the merger. The approval and adoption of the merger agreement and the merger required approval by holders of a majority of the outstanding Oiltanking Partners common units, in accordance with the merger agreement and Oiltanking Partners’ partnership agreement.