V&E, Latham and Andrews Kurth Advise in M&A Worth $1.8 Billion

© 2015 The Texas Lawbook.By Natalie Posgate (March 25) – Corporate attorneys Vinson & Elkins’ Houston office negotiated a nice amount of dollar signs this first half of the week. On Monday, they finalized terms for Dallas-based Energy Transfer Partners’ second dropdown of its retail business to company affiliate Sunoco for $816 million. And today, the firm squared away a $1 billion equity commitment by its client, Quantum Energy Partners, to Houston-based LINN Energy. Texas lawyers from other firms were on the other end of both deals. Andrews Kurth represented Sunoco and Latham & Watkins represented LINN. In the dropdown transaction, Sunoco will acquire 31.58 percent of the membership interests of the retail business, which distributes approximately 5.3 billion gallons per year in motor fuel to customers in the East, Midwest and Southeast. Sunoco will pay $775 million in cash and issue $40.8 million in SUN common units to ETP. The transaction is expected to close in April. ETP turned to Houston corporate partner Matt Strock and associates Lande Spottswood and Brittany Sakowitz to lead the V&E team. They received assistance from associate John Bell. Houston partner Price Manford, Washington, D.C. partner Gary Huffman and Dallas associate Brian Russell provided…