© 2017 The Texas Lawbook.
By Natalie Posgate
(May 11) – Houston lawyers at Bracewell, Baker Botts, Latham & Watkins and Andrews Kurth Kenyon worked on The Netherlands-based VTTI B.V.’s $481 million all-cash acquisition of its limited partnership, VTTI Energy Partners LP.
Based in London, VTTI Energy Partners acquires, develops, owns and operates refined petroleum, crude oil terminals and related energy infrastructure. VTTI B.V. formed the company in April 2014. The merger will cause VTTI Energy Partners to go private. After the deal closes, it will become a wholly owned subsidiary of VTTI.
The negotiations entailed the board of directors of the general partner of VTTI Energy Partners to form a conflicts committee of three independent directors to consider VTTI’s offer.
The conflicts committee turned to Houston partner Will Anderson of Bracewell to lead its end of the deal. Others on the Bracewell deal team included Houston partner Bradley Benoit; Houston associates Benjamin Martin, Charlotte Keenan and Andrew Monk; and attorneys from the firm’s London and New York offices.
Evercore, which provided financial advice to the conflicts committee, hired Corporate partner Josh Davidson and associate Jennifer Gasser of Baker Botts for legal advice regarding its involvement in the deal.
Latham corporate partners Sean Wheeler and Ryan Maierson led VTTI’s end of the transaction. The Houston-based Latham deal team also included associates David Stott, Ryan Lynch, Daniel Harrist, Alice Parker and Stephen Levy.
VTTI’s financial advisor in the deal was Barclays. The bank turned to Andrews Kurth Kenyon partners Mark Young and Bill Cooper to lead its involvement in the deal.
The merger is expected to close in the third quarter.
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