Jones Day represents Atlas Pipeline Partners LP in its pending acquisition of 100 percent of the equity interest in TEAK Midstream LLC of Dallas for $1 billion in cash.

Thompson & Knight represents TEAK in the deal, which gives the Philadelphia-based Atlas Pipeline entree into the Eagle Ford Shale in South Texas, where drilling is booming.

On April 16, Atlas Pipeline announced it had executed a definitive agreement to acquire all of the equity of TEAK, a privately owned natural gas gathering and processing company. TEAK is a Natural Gas Partners (NGP) portfolio company. NGP is based in Irving.

The acquisition is expected to close during the second quarter of 2013, pending certain regulatory approvals and customary closing conditions.

Jeffrey Schlegel, an energy partner in Houston, leads Jones Day’s deal team for Atlas Pipeline. Others are capital markets partner Darrell Taylor and associate Matthew Hendrix, both of Houston; energy partner Charles Wehland of Chicago and associate Omar Samji of Houston; mergers and acquisitions associates David Stringer of Houston and Jordan Bethea and David Newland, both of Dallas; government regulation associate Jeffrey Devore of Pittsburgh and counsel Jane Murphy of Chicago; tax partner Todd Wallace of Dallas; employee benefits and executive compensation of counsel Gary Short of Dallas; labor and employment partner Mark Temple of Houston and associate Anna Hartog of Chicago; and banking and finance partner Cassandra Mott and associate Ryan Cicero, both of Houston.

The Jones Day team also includes associates Mike Magee and Necia Hobbes, both of Pittsburgh, and Luke Jennings, Murre Martindale and Melissa Kalka, all of Dallas, along with project attorney Alexandra Wilde of Dallas.

Dallas partners Jeffrey Zlotky and J. Holt Foster lead Thompson & Knight’s team for TEAK, with assistance from Dallas partner R. David Wheat and associates Jesse Betts, Melissa Persons and Emily Tubb. Others supporting the transaction are partners Anthony Campiti, Jason Patrick Loden and John W. Rain, all of Dallas, along with Dallas associates Brandon Bloom, Michael Lii and Van Wiltz, all of Dallas, and Houston associates Anna Irion and Lucas LaVoy.

Gerald Shrader, chief legal officer of Atlas Pipeline, is also working on the deal.

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