© 2014 The Texas Lawbook.
By Natalie Posgate – (September 24) – Calgary-based Veresen Inc. has agreed to purchase a 50 percent interest in the Ruby pipeline system from Global Infrastructure Partners for $1.4 billion.
Baker Botts advised Veresen, with Houston partner Joe Poff as the lead attorney. The M&A team also involved Houston associates Scott Looper and Kristen Smith, as well as Washington, D.C. partner Steven Miles.
Other attorneys involved in the deal included Houston partners Mitch Lukin, Jason Newman and Bob Wright and associates Daniel Kruger and Nicole Soussan; Austin partners Aileen Hooks and Bill Stutts and associate Nicholas Graham; and attorneys from the firm’s New York and Washington, D.C. offices.
Baker Botts is also advising Veresen on its proposed Jordan Cove LNG Project, which involves building a terminal on the west coast. Veresen’s website says it is still pursuing strategic partnerships for the project.
A New York team of Latham & Watkins lawyers led the deal for GIP. Houston environmental partner Joel Mack was the only Texas attorney from the Latham team.
El Paso Pipeline partners owns the other half of the Ruby pipeline, which begins at the Opal hub in Wyoming and extends to the Malin hub in Oregon. The Malin hub is the main interconnect to the proposed Pacific Connector Gas Pipeline, which Veresen also owns half of and would supply Veresen’s proposed Jordan Cove LNG terminal.
Veresen’s acquisition of its interest in the Ruby pipeline is expected to close in the fourth quarter.
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