© 2017 The Texas Lawbook.
By Jon Prior of the Dallas Business Journal
(Aug. 1) – Dallas-based Energy Transfer Partners has sold part of its stake in a troubled natural gas pipeline project to the energy investment arm of Blackstone for $1.57 billion, the company said Monday.
Blackstone turned to Houston corporate partner Keith Fullenweider and Dallas associate Peter Marshall of Vinson & Elkins, as well as an attorney in the firm’s London office, to lead its end of the deal.
The V&E deal team also included Houston partner Mark Brasher, Dallas partner John Grand and Houston associates Mike Marek and Stephanie Coco (corporate); Houston partner Larry Nettles and associates Brandon Tuck and Matt Dobbins (environmental); Dallas real estate partner Randy Jurgensmeyer; and Houston partner John Lynch and Austin associate Allyson Seger (tax).
Attorneys from the firm’s New York and Washington, D.C. offices advised on finance and energy regulatory matters.
This isn’t the first time for V&E to represent Blackstone. In April, V&E represented the private equity firm when it purchased EagleClaw, the largest privately-held midstream operator in the Permian’s Delaware Basin, for $2 billion.
ETP General Counsel Jim Wright hired a group from Latham & Watkins to handle its end of the transaction. Houston/New York partner Charlie Carpenter co-led the Latham deal team with another attorney in the firm’s New York office. Other Houston-based Latham attorneys who worked on the deal included counsel Jesse Myers and associate Lauren Anderson (corporate), partner Tim Fenn and associate James Cole (tax) and environmental partner Joel Mack. Attorneys from the firm’s New York and San Diego offices advised on finance matters.
Blackstone turned to Intrepid Partners for financial advice. Morgan Stanley served as the sole provider of the committed debt financing.
Read more details about the deal here in the Dallas Business Journal’s full article.
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