Latham Represents ONEOK on US$4.425 Billion Acquisition of Brazos Midstream
ONEOK, Inc. (NYSE: OKE) has announced that it has executed a definitive agreement to acquire Brazos Midstream's Permian Midland Basin natural gas gathering and processing business for total cash consideration of US$4.425 billion. The acquisition will be funded through a US$9 billion non-voting minority equity investment from funds and affiliates managed by Apollo in ONEOK’s existing business with the remaining proceeds from the equity investment used to reduce ONEOK’s existing indebtedness.
Latham & Watkins LLP advised ONEOK on the transaction with a corporate deal team led by Houston partners Ryan Maierson, Nick Dhesi, and Clayton Heery, with associates Ziyad Barghouthy, Armaan Bhimani, Victoria Wade, and E.B. Nasir. Advice was also provided on tax matters by Houston partners Tim Fenn and Bryant Lee, with associate Dominick Constantino; on antitrust matters by Washington, D.C. partners Peter Todaro, Caitlin Fitzpatrick, and Tara Tavernia, with associate William Reed and with assistance from Jackson Guilford; on environmental matters by San Diego partner Jennifer Roy, with associates Brian McCall and Eliane Bach; on intellectual property matters by Silicon Valley partner John McGaraghan, with associate Preeta Reddy; on data privacy matters by Silicon Valley partner Michelle Gross, with associates Ryleigh Chenand Eric Gonzalez; on compensation and benefits matters by Los Angeles/Orange County partner Michelle Carpenter, with associate Christina Schrantz;* on labor and employment matters by Chicago counsel Laura Waller, with associate Jocelyn Wexler;** on finance matters by Houston partner Pamela Kellet, with associates Jenny Lyubomudrova and Linda Xu; on oil and gas matters by Houston partner Chris Heasley, with associate Nate Guerra; on regulatory matters by Washington, D.C. partner Pat Nevins, with associate Jecoliah Williams; and on litigation matters by Houston partner Casey Berger, with associate Roark Luskin.***
*Admitted to practice in Texas only.
**Admitted to practice in Massachusetts only.
***Admitted to practice in California only.