ETP Buys Susser Gas Stations for $1.8 Billion

© 2014 The Texas Lawbook.

By Mark Curriden, JD
Senior Writer for The Texas Lawbook

(April 28) – Dallas-based Energy Transfer Partners announced Monday it is buying Corpus Christi-based Susser Holdings for $1.8 billion.

With the Susser transaction, ETP adds 630 gas stations to the 5,000 service stations it acquired two years ago when it purchased Sunoco for $5.3 billion. ETP also owns 36,000 miles of natural gas pipeline and has assets valued at more than $50 billion.

Vinson & Elkins M&A partner Matt Strock of Houston advised ETP on the transaction. Other V&E lawyers who worked on the deal include associates Lande Spottswood, Atman Shukla, Wright Wommack and Brant Wischnewsky. The team was also assisted by tax law partner Price Manford, tax law associate Robert Jacobson and employee benefits partner Brian Bloom.

ETP General Counsel Tom Mason, a former V&E partner, and Associate General Counsel Jason Healy, also played a key role in the acquisition.

Susser turned to Gibson Dunn corporate partner Jay Tabor in Dallas to lead its side of the sale. Tax matters are being led by David Sinak, a Gibson Dunn partner in Dallas.

Weil Gotshal represents financial adviser Merrill Lynch. The Weil team includes Dallas corporate law associate David Gail.

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