Akin Gump Advises Genesis Energy on Pipeline Acquisition and Financing Transactions

(Houston) – Akin Gump advised Genesis Energy, L.P. in a series of transactions including a $1.5 billion acquisition of offshore pipelines and related infrastructure and approximately $1.7 billion in financing transactions, including two public offerings.

Today, Genesis Energy announced it and an affiliate of Enterprise Products Partners L.P. entered into a purchase and sale agreement pursuant to which Genesis would acquire the offshore pipeline and services business of Enterprise and its affiliates. All closing conditions, other than those that are to be satisfied at the closing of the deal, have been satisfied or waived, and the acquisition is expected to close this month.

Concurrently with signing that purchase agreement, Genesis commenced a public offering of $400 million of its common units representing limited partner interests and a public offering of $750 million in aggregate principal amount of senior unsecured notes due 2022. Proceeds from these financing transactions will be used to fund the acquisition purchase price and related expenses and for other partnership purposes.

The Akin Gump team working on these transactions included the following lawyers:

  • Corporate attorneys from the oil and gas practice: Partners Chip Cowell, Patrick Hurley, Vince Kendrick, Eric Munoz and Phyllis Young; counsel Freddy Feldman and Rebecca Tyler; and associates Chase Armbrust, Chris Centrich, Adam Garmezy and Eric Shoemaker
  • From the tax practice: Partner Dan Paulos
  • From the antitrust practice: Partner Paul Hewitt and senior attorney Stacy Kobrick

Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.

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