Enterprise had said previously that the mega-takeover of Oiltanking Partners will not only help Enterprise meet its growing LPG export aspirations, it will also set the foundations to capture opportunities arising from potential U.S. crude export in the future.

Oiltanking is a major dirty-product terminaling player on the Gulf Coast as its tanks are used mainly for crude and fuel oil storage.

Enterprise executives said that the key terminaling and marine access position on the Gulf Coast could take advantage of potential crude exports. So far, Enterprise is exporting only a limited volume of processed condensate, and the U.S. crude export ban remains firmly in place.

Enterprise said that domestic crude producers are ramping up crude production in Eagle Ford, Permian Basin and the Midwest.

Approximately 99.87% of the Oiltanking Partners common units that voted were cast in favor of the merger, including 54,799,604 (approximately 66% 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% of Oiltanking Partners’ total outstanding common units as of the record date.

Excluding the units owned by Enterprise, approximately 99.54% 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.

Under the terms of the merger agreement, unitholders of Oiltanking Partners (other than Enterprise and its subsidiaries) are entitled to receive 1.3 Enterprise common units for each Oiltanking Partners common unit. Cash will be paid to Oiltanking Partners unitholders in lieu of any fractional units they otherwise would have been entitled to receive in accordance with the merger agreement.

As a result of the merger, Oiltanking Partners is now a wholly owned subsidiary of Enterprise, and its common units will cease trading on the New York Stock Exchange at the close of business today.

Enterprise common units will continue to trade on the New York Stock Exchange under the ticker symbol “EPD.”

On Oct. 1, 2014, Enterprise completed the first step of a two-step acquisition of Oiltanking Partners by paying approximately $4.41 billion to Oiltanking Holding Americas Inc. for the general partner of Oiltanking Partners, the related incentive distribution rights and approximately 66% of outstanding limited partner units of Oiltanking Partners.

With the completion of this second step, total consideration paid by Enterprise for Oiltanking Partners was approximately $5.9 billion.