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V&E Advises in $775 Million General Partner Sale

November 12, 2013 Mark Curriden

© 2013 The Texas Lawbook.

By Natalie Posgate
Staff Writer for The Texas Lawbook

(November 12) – Northern Tier Energy LP’s private equity sponsors, ACON Investments, LLC and TPG Capital, sold all their interests Tuesday in Northern Tier Energy to Western Refining, Inc. for $775 million.

As a result, El-Paso-based Western Refining now owns 100 percent of the general partner and 38.7 percent of the Connecticut-based downstream energy company. The balance of limited partner units will remain publicly traded.

Vinson & Elkins represented Washington, D.C.-based ACON and Fort Worth-based TPG in the transaction, with Houston M&A partner Keith Fullenweider as the lead attorney. Those also involved in the M&A matters included Dallas partner James Hanna and Houston associates Julian Seiguer, Chris Colquitt, Atman Shukla, John Bell and Austin March.

Other V&E attorneys involved in the deal included Houston partner John Lynch and associates Lina Dimachkieh and Matt Dobbins; Dallas partner Brian Bloom and associate Missy Spohn; and Austin partner Sue Snyder.

Previously, Fullenweider represented TPG during Kinder Morgan Energy Partners, LP’s $5 billion acquisition in January of Copano Energy, LLC. TPG was Copano’s largest investor. Fullenweider also represented TPG last year when it invested $1.25 billion of preferred interests of Chesapeake Cleveland-Tonkawa, LLC, a subsidiary of Chesapeake Energy Corporation.

New York-based firms Davis Polk & Wardwell and Pillsbury Winthrop Shaw Pittman represented Western Refining in the transaction.

© 2013 The Texas Lawbook. Content of The Texas Lawbook is controlled and protected by specific licensing agreements with our subscribers and under federal copyright laws. Any distribution of this content without the consent of The Texas Lawbook is prohibited.

If you see any inaccuracy in any article in The Texas Lawbook, please contact us. Our goal is content that is 100% true and accurate. Thank you.

Mark Curriden

Mark Curriden is a lawyer/journalist and founder of The Texas Lawbook. In addition, he is a contributing legal correspondent for The Dallas Morning News.

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©2025 The Texas Lawbook.

Content of The Texas Lawbook is controlled and protected by specific licensing agreements with our subscribers and under federal copyright laws. Any distribution of this content without the consent of The Texas Lawbook is prohibited.

If you see any inaccuracy in any article in The Texas Lawbook, please contact us. Our goal is content that is 100% true and accurate. Thank you.

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