© 2016 The Texas Lawbook.
By Natalie Posgate
(Aug. 24) – San Antonio-based Valero Energy said this week that it is dropping down its Meraux and Three Rivers terminal services business to the company’s master limited partnership, Valero Energy Partners, for $325 million.
The transaction is expected to close on Sept. 1.
Valero turned to Houston corporate partner Gerry Spedale of Baker Botts to lead its end of the deal. Spedale received assistance from Dallas partner Steve Marcus and Houston associates Jeremy Moore, Justine Robinson and Jude Dworaczyk.
In-house Valero attorneys on the deal included Jim Steel and Steve Gilbert.
Akin Gump represented the conflicts committee of Valero Energy Partners. Houston corporate partner David Elder led the Akin Gump deal team, which also included Houston tax partner Alison Chen, energy counsel Jhett Nelson and corporate associate Cynthia Angell.
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