Genesis Energy’s $418 Million Sale of Interest in Cameron Highway Oil Pipeline System

Akin Gump Strauss Hauer & Feld advised Genesis Energy on the deal.

Genesis Energy, L.P. has announced the closing of the sale of a 36 percent minority equity interest in its Cameron Highway Oil Pipeline System to an undisclosed financial party at an 8/8ths valuation of $1.16 billion, which resulted in gross proceeds to Genesis of approximately $418 million.

Genesis now owns 64 percent of pipeline and will remain its operator.

The Akin Gump team was led by corporate partners Patrick Hurley (Picture) and Chris Centrich. They were joined by fellow partners Chip Cowell and Eric Muñoz and associates Leana Garipova, Allyson Li, Tyler Andrews, Madeline Sullivan and Alan Sanchez. Partner Alison Chen, senior counsel Brandon Morris and associate Menachem Fox provided tax advice.

 

Involved fees earner: Tyler Andrews – Akin Gump Strauss Hauer & Feld LLP; Christopher Centrich – Akin Gump Strauss Hauer & Feld LLP; Alison Chen – Akin Gump Strauss Hauer & Feld LLP; Eugene (Chip) Cowell – Akin Gump Strauss Hauer & Feld LLP; Menachem Fox – Akin Gump Strauss Hauer & Feld LLP; Leana Garipova – Akin Gump Strauss Hauer & Feld LLP; Patrick Hurley – Akin Gump Strauss Hauer & Feld LLP; Allyson Li – Akin Gump Strauss Hauer & Feld LLP; Brandon Morris – Akin Gump Strauss Hauer & Feld LLP; Eric Muñoz – Akin Gump Strauss Hauer & Feld LLP; Alan Sanchez – Akin Gump Strauss Hauer & Feld LLP; Madeline Sullivan – Akin Gump Strauss Hauer & Feld LLP;

Law Firms: Akin Gump Strauss Hauer & Feld LLP;

Clients: Genesis Energy, L.P.;

Martina Bellini

Author: Martina Bellini