September 23, 2014
Global Infrastructure Partners (“GIP”), a leading independent global infrastructure investor, has announced that one of its funds, Global Infrastructure Partners I, has agreed to sell its 50% interest in the Ruby Pipeline to Veresen Inc. (TSE: VSN) for $1.425 billion in cash (the “Transaction”), according to the company press release below. The Transaction is subject to customary closing conditions.
Latham & Watkins LLP advised GIP in this transaction with a New York based corporate deal team led by partners Edward Sonnenschein and Eli Hunt with associates Eric Geffner, Jaymin Patel and Andrew Fox. Assistance was also provided on tax matters by New York partner David Raab with Washington D.C. associate Andrea Ramezan-Jackson; on employee/benefits matters by New York partner Bradd Williamson with New York associate Lori Goodman; on environmental matters by Houston partner Joel Mack; on project finance matters by Washington D.C. partner Kenneth Simon with New York associate William Flynn; on regulatory matters by Washington D.C. partner Les Carnegie and Washington D.C. counsel Jarrett Taubman with Washington D.C. associate Seth Gilmore; and on antitrust matters by Washington D.C. partner Tad Lipsky and Washington D.C. counsel Sydney Smith.