Houston-based American Midstream Partners said Monday that it will sell its propane marketing and services business to Netherlands-based SHV Energy NV for $170 million in cash.
Both companies turned to Houston-based attorneys from Jones Day and Gibson, Dunn & Crutcher to lead the transaction.
Gibson Dunn corporate partners Gerald Spedale and Tull Florey led American Midstream’s end of the deal. Corporate partner Hillary Holmes also played a significant role, as well as Dallas associates Jonathan Whalen and Louis Matthews. Houston partner James Chenoweth handled tax matters, while Dallas associate Krista Hanvey handled benefits. Gibson Dunn’s New York office also worked on the deal.
American Midstream Associate General Counsel Tom Leslie served as in-house counsel for the transaction. Leslie joined the company last August. Before moving in-house, he was an associate at Sidley Austin, and before that, Baker Botts.
Jones Day energy partner Jeffrey Schlegel, associate David Stringer and an attorney in the firm’s New York office led SHV’s end of the deal. Other Texas-based attorneys involved in the deal included real estate partners Michelle Brown and Martha Wach and associates Erreka Campbell, Tyler Clarke, Conrad Steele and Shane Trawick in Dallas; Houston energy associate Alixandra Charles; Dallas labor partner Lindsay Hedrick; and Dallas and Houston associates Tyler Harris, William Mason and Michael Walraven. Attorneys from Jones Day’s Amsterdam, New York, Chicago, Cleveland, Silicon Valley, Columbus and Washington, D.C. offices also provided advice.
Wells Fargo served as American Midstream’s exclusive financial advisor.
The transaction is expected to close in the third quarter.
Claire Poole contributed to this report.