Mayer Brown advised Dow Inc. on the deal.
Dow Inc. closed its definitive agreement to divest certain US Gulf Coast marine and terminal operations and assets to Vopak Industrial Infrastructure Americas, a joint venture of Royal Vopak and BlackRock’s Global Energy & Power Infrastructure Fund, for $620 million. The transaction includes marine and storage terminal operations and assets at Dow’s sites in Plaquemine and St. Charles, Louisiana and Freeport, Texas.
In connection with today’s announcement, Dow and Vopak Industrial Infrastructure Americas have entered into long-term service agreements, ensuring reliable and cost-advantaged services for existing Dow businesses at the in-scope sites. The transaction is expected to close in the fourth quarter of 2020, subject to customary regulatory approvals and other closing conditions in the US and the European Union.
The Mayer Brown team was led by Corporate & Securities partners Marc Sperber (Picture), Pete Wolf and Marina Aronchik in the firm’s Chicago and Northern California offices.
Law Firms: Mayer Brown;
Clients: Dow Inc. ;