UPDATED – Weil Leads PetroLogistic’s $2.1 Billion Sale to Koch Industries

© 2014 The Texas Lawbook.

By Mark Curriden, JD
Senior Writer for The Texas Lawbook

(May 28) – Flint Hills Resources, a division of Koch Industries, is acquiring Houston-based PetroLogistics for $2.1 billion.

PetroLogistics facilities convert shale gas into propylene, which makes plastics, auto parts, building materials and paint.

Glenn West, a corporate law partner in the Dallas office of Weil, Gotshal & Manges, led the transaction for PetroLogistics. Last year, West advised Houston-based Apache Corp. when it sold $3 billion in Egyptian oil and gas assets to Chinese-owned Sinopec. He also played a crucial and leading role representing American Airlines in its merger last year with US Airways.

Other Dallas-based Weil lawyers involved in the PetroLogistics deal are corporate associates Mandy Price, Dilen Kumar, and Elliott DeRemer. Tax law partner Jared Rusman and associate Mark Dundon also advised Logistics.

Flint Hills Resources turned to Jones Day’s Bryan Davis, an M&A partner in the firm’s Atlanta office, to lead it in the transaction. Davis was assisted by a number of Texas-based Jones Day attorneys, including Dallas partners James O’Bannon, Troy Lewis, Katherine Ettredge, Todd Wallace and associates Isaac Griesbaum, David Kern, Sweta Gabhawala and Louis Jenull; and Houston partner Scott Fletcher and associate Kelly Turner. Atlanta associate Patrick Baldwin was an additional member of the deal team.

Vinson & Elkins also represented PetroLogistics in the deal.

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