Kelcy Warren Says $1 Billion Energy Transfer Deal Is Fair to All
- Energy Transfer chairman dismisses complaint he unduly gained
- Testifies in suit targeting $200 million benefit from move
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Kelcy Warren, the billionaire chairman of Energy Transfer Equity LP, dismissed complaints that he unfairly benefited from a 2016 private issuance of units in one of the pipeline company’s partnerships that was tied to the failed merger with Williams Co.
Unitholders, including a Pennsylvania retirement fund, contend Warren and other Energy Transfer executives engineered the $1 billion deal involving only select investors so that Warren could reap more than $200 million.