SunCoke Energy’s Simplification Transaction

Akin Gump Advises SunCoke Energy Partners Conflicts Committee on the transaction

SunCoke Energy, Inc. (NYSE: SXC) and SunCoke Energy Partners, L.P. (NYSE: SXCP) have entered into a definitive agreement whereby SXC will acquire all outstanding common units of SXCP not already owned by SXC in a stock-for-unit merger transaction.

The Simplification Transaction is expected to close late in the second quarter or early in the third quarter of 2019, subject to customary closing conditions. Pursuant to the terms of the merger agreement, SXCP unaffiliated common unitholders will receive 1.40 SXC common shares for each SXCP common unit. The SXCP unit price implied by the exchange ratio represents a 9.3% premium to SXCP’s closing price on February 4, 2019 and a 12.7% premium, based on SXC’s and SXCP’s 30-day volume weighted average prices ending February 4, 2019.

Akin Gump advised the conflicts committee of the board of directors of the general partner of SXCP in the matter.

The Akin Gump deal team included partners John Goodgame (Picture) and Lisa Hearn and associate Lisa Garrett; environment and natural resources partner David Quigley and senior counsel Andrew Oelz; tax partner Jocelyn Tau; and antitrust partner Gorav Jindal and associate Matthew Schmitten.

Involved fees earner: Lisa Garrett – Akin Gump; John Goodgame – Akin Gump; Gorav Jindal – Akin Gump; Lisa Leiman Hearn – Akin Gump; Andrew Oelz – Akin Gump; David Quigley – Akin Gump; Matthew Schmitten – Akin Gump; Jocelyn Tau – Akin Gump;

Law Firms: Akin Gump;

Clients: SunCoke Energy Partners, L.P. ;


Author: Ambrogio Visconti