Energy Transfer Partners, L.P. (NYSE:ETP) announced that it has entered into a definitive agreement for a private placement of 15,800,000 common units at $35.949367 per unit for gross proceeds of $568,000,000 with returning investor, Energy Transfer Equity, L.P. (NYSE:ETE) on January 9, 2017. The units represent limited partner interests in the company. The transaction has been approved by the boards of directors and conflicts committees of both parties. The transaction is conditional upon closure of investors’ ongoing $580,000,000 private placement transaction. The transaction is expected to close by January 12, 2017.