Akin Gump Advises Valero Energy Partners Conflicts Committee in $325 Million Terminal Services Deal
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(Houston) – Valero Energy Partners LP has announced that the board of directors of its general partner has approved its acquisition of the Meraux and Three Rivers Terminal Services Business from a subsidiary of Valero Energy Corporation (Valero) for total consideration of approximately $325 million. Akin Gump advised Valero Energy Partners’ conflicts committee in the matter.
The business to be acquired includes terminals that support Valero’s Meraux and Three Rivers refineries and consists of 86 tanks with approximately 6.15 million barrels of storage capacity for crude oil, intermediates and refined petroleum products. The transaction is expected to close effective September 1.
The Akin Gump team advising on the deal was led by energy partner David Elder. It also included tax partner Alison Chen and energy counsel Jhett Nelson and associate Cynthia Angell.
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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