Akin Gump Advises Valero Energy Partners Conflicts Committee in Terminal Services Business Acquisition
(Houston) – Akin Gump served as legal advisor to the conflicts committee of the board of directors of the general partner of Valero Energy Partners LP, whose board has approved the partnership’s acquisition of the Corpus Christi Terminal Services Business from a subsidiary of Valero Energy Corporation for total consideration of $465 million. The transaction is expected to close effective October 1.
The business to be acquired includes two terminals that support Valero’s Corpus Christi East and West refineries, consisting of 134 tanks with 10.1 million barrels of storage capacity for crude oil, intermediates and refined petroleum products.
Akin Gump oil and gas partner David Elder led the team advising Valero’s conflicts committee. He was joined by tax partners Thomas Weir and Alison Chen, oil and gas counsel Jhett Nelson and oil and gas associates Cynthia Angell and Stephen Harrington.
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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