Brookfield Infrastructure’s $7 Billion Acquisition of Blackstone’s Stake in Cheniere Energy Partners

Latham & Watkins LLP represented Blackstone’s private equity business, Blackstone Energy Partners, in the transaction. Simpson Thacher represented funds managed by Blackstone Infrastructure Partners.

Blackstone (NYSE: BX) has announced that private equity funds managed by Blackstone have closed the sale of their approximately 42% stake in Cheniere Energy Partners, L.P., the largest liquefied natural gas export terminal in the US, to Brookfield Infrastructure and funds managed by Blackstone Infrastructure Partners. The transaction values Blackstone’s stake in Cheniere at US$7 billion.

Cheniere Energy Partners, L.P. (NYSE American: CQP) (Cheniere Partners) is a Delaware limited partnership formed by Cheniere Energy, Inc. Through wholly owned subsidiaries, it owns and operates the Sabine Pass LNG receiving terminal and the Creole Trail Pipeline located in western Cameron Parish, Louisiana on the Sabine-Neches Waterway.

Blackstone Energy Partners is Blackstone’s energy-focused private equity business, with a successful record built on Blackstone’s industry expertise and partnerships with exceptional management teams. Blackstone has invested over $8 billion of equity globally across a broad range of sectors within the energy industry.

Latham & Watkins LLP represented Blackstone’s private equity business, Blackstone Energy Partners, with a corporate deal team led by New York partners David Allinson (Picture) and David Beller, with associates John Karantonis and Yina Koh. Advice was also provided on partnership matters by New York partner Charlie Carpenter and Houston partner Lauren Anderson; on finance matters by New York partners Warren Lilien and Chirag Dedania and London counsel John-Patrick Sweny, with associate Kailash Gupta; on tax matters by New York partners Lisa Watts and Matthew Dewitz, with associate Eric Kamerman; on CFIUS matters by Washington, D.C. partner Les Carnegie, with associate Zachary Eddington; on SEC matters by Washington, D.C. partner Brian Miller, with associates William Hackett and Sara Almousa; on energy regulatory matters by Washington, D.C. partners Patrick Nevins and Tyler Brown; and on environmental matters by New York counsel David Langer.

The Simpson Thacher team included Breen Haire, Ravi Purohit, Tyler Cox and Daniel Lewis (M&A); Chris Brown, Noah DeBlasi and Jason Lawrence (Credit); Drew Purcell and Dmitry Zelik (Tax); James Rapp and Jennifer Nadborny (Capital Markets); Brian Robbins, Greg Grogan, Jeanne Annarumma and Patricia Adams (ECEB); Parker Kelsey, Benjamin Smith and Yorda Yenenh (Funds); and Bobbie Burrows (IP).

Involved fees earner: David Allinson – Latham & Watkins; Sara Almousa – Latham & Watkins; Lauren Anderson – Latham & Watkins; David Beller – Latham & Watkins; Tyler Brown – Latham & Watkins; Les Carnegie – Latham & Watkins; Charles Carpenter – Latham & Watkins; Chirag Dedania – Latham & Watkins; Matthew Dewitz – Latham & Watkins; Zachary Eddington – Latham & Watkins; Kailash Gupta – Latham & Watkins; William Hackett – Latham & Watkins; Eric Kamerman – Latham & Watkins; John Karantonis – Latham & Watkins; Yina Koh – Latham & Watkins; David Langer – Latham & Watkins; Warren Lilien – Latham & Watkins; Brian Miller – Latham & Watkins; Patrick Nevins – Latham & Watkins; John-Patrick Sweny – Latham & Watkins; Lisa Watts – Latham & Watkins; Patricia Adams – Simpson Thacher & Bartlett; Jeanne Annarumma – Simpson Thacher & Bartlett; Benjamin Smith – Simpson Thacher & Bartlett; Christopher Brown – Simpson Thacher & Bartlett; Bobbie Burrows – Simpson Thacher & Bartlett; Tyler Cox – Simpson Thacher & Bartlett; Noah DeBlasi – Simpson Thacher & Bartlett; Gregory Grogan – Simpson Thacher & Bartlett; Breen Haire – Simpson Thacher & Bartlett; Parker Kelsey – Simpson Thacher & Bartlett; Jason Lawrence – Simpson Thacher & Bartlett; Daniel Lewis – Simpson Thacher & Bartlett; Jennifer Nadborny – Simpson Thacher & Bartlett; Andrew Purcell – Simpson Thacher & Bartlett; Ravi Purohit – Simpson Thacher & Bartlett; James Rapp – Simpson Thacher & Bartlett; Brian Robbins – Simpson Thacher & Bartlett; Yordanosse Yenenh – Simpson Thacher & Bartlett; Dmitry Zelik – Simpson Thacher & Bartlett;

Law Firms: Latham & Watkins; Simpson Thacher & Bartlett;

Clients: Blackstone Energy Partners; Blackstone Infrastructure Partners;

Author: Ambrogio Visconti