© 2015 The Texas Lawbook.
By Natalie Posgate
(Aug. 10) – Sugar Land-based CVR Partners announced Monday that it will acquire all outstanding units of Los Angeles-based Rentech Nitrogen Partners for approximately $839 million.
CVR will gain two fertilizer production facilities through the transaction – one in Pasadena, Texas, and the other in northwestern Illinois.
CVR turned to a Houston team led by partners Jeff Floyd and Ramey Layne of Vinson & Elkins to handle its acquisition. Also on the corporate deal team were associates Benji Barron, Lande Spottswood, James Brown, Stephen Grant, Leonard Wood, Brett Peace and Jing Tong.
Other V&E lawyers from Houston and Dallas on the deal included partners David D’Alessandro, Sean Becker, Price Manford and Tom Crichton and associates Lina Dimachkieh, Missy Spohn and James Melchers. They handled other aspects such as tax, employee benefits and labor & employment.
A primarily non Texas-based team from Latham & Watkins advised Rentech Nitrogen on the deal, but the team included tax partner Tim Fenn and associate James Cole from Houston.
The companies said in a joint statement that both of their boards of directors have approved the transaction, which is expected to close by the end of the year and no later than May 31, 2016.
Morgan Stanley served as Rentech Nitrogen’s financial advisor.
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