An affiliate of ArcLight Capital Partners, LLC (ArcLight) has acquired an incremental 12.5% interest in Natural Gas Pipeline Company of America LLC (NGPL) from an affiliate of Brookfield Infrastructure Partners L.P. (NYSE: BIP) (Brookfield). As a result of this transaction, ArcLight’s ownership in NGPL increased to 37.5% while Brookfield retains a 25% interest. Kinder Morgan, Inc. (NYSE: KMI) continues to operate the pipeline and holds a 37.5% interest in NGPL.
Latham & Watkins LLP represented ArcLight in the transaction and related financing with a deal team led by partners David Allinson and Justin Stolte and counsel Thomas Verity, with associates Alice Parker, Kara Chung, and Morgen Seim. The finance team was led by partner Warren Lilien, with associates Annelise Karreman, Brian Flynn, and Kathryn Sarkesian. Advice was also provided on tax matters by partner Katharine Moir, with associate Kayleigh Kuyon; and on regulatory matters by partners Patrick Nevins and Jason Cruise and counsel Philipp Studt, Joseph Simei, and Tara Tavernia.