Akin Gump Strauss Hauer & Feld advised the conflicts committee of Valero Energy Partners in its pending acquisition of energy assets from Valero Energy Corp. for $154 million in cash.
San Antonio-based Valero Energy Corp. turned to Baker Botts.
On June 17, Valero Energy Partners, also of San Antonio, announced it had approved the acquisition of the McKee Crude System, the Three Rivers Crude System and Wynnewood Products System from subsidiaries of Valero Energy Corp. The drop-down transaction is expected to close on July 1.
The McKee Crude System is located in Sunray, the Three Rivers Crude System is located in the Eagle Ford Shale region in South Texas, and the Wynnewood Products System is located in Ardmore, Okla.
Akin Gump energy partners David Elder and John Goodgame, both of Houston, represent Valero Energy Partners, a master limited partnership, in the acquisition.
The Baker Botts lawyers representing Valero Energy Corp. include partners Gerald Spedale of Houston and Stephen Marcus of Dallas; senior associate Jeremy Moore of Houston; and associates Matthew Kaipust and Justine Robinson, both of Houston.
Also, Valero Energy Corp. in-house lawyers Les Caldwell and Jim Satel are working on the transaction.