Akin Gump Serves as Legal Advisor in Valero Energy Partners’ Acquisition of Certain Valero Terminaling Businesses
(Houston) – Akin Gump advised the conflicts committee of the board of directors of the general partner of Valero Energy Partners LP in a deal to acquire certain businesses from subsidiaries of Valero Energy Corporation.
Under the terms of the transaction, the partnership will receive the outstanding membership interests in Valero Partners Houston, LLC and Valero Partners Louisiana, LLC for total consideration of about $671 million. The transaction is expected to be immediately accretive to the partnership and its unitholders and is expected to close effective March 1.
The lawyers from Akin Gump who worked on the deal were oil and gas and natural resources partners David Elder and Patrick Hurley, oil and gas and natural resources counsel Jhett Nelson, oil and gas and natural resources associate Adam Garmezy and tax partner Thomas Weir.
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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