Simpson Thacher Represents KKR on Colonial Pipeline Stake Acquisition
10.12.10
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Simpson Thacher is representing KKR with respect to its purchase of Chevron’s 23.44% stake in the Colonial Pipeline Company (“Colonial”). KKR acquired the minority stake in partnership with the National Pension Service of Korea, the fourth largest public pension fund in the world and an emerging global investment manager. The sale closed on October 8, 2010.
The Colonial pipeline system is the largest refined products pipeline in North America, running from supply centers in the Gulf Coast to customers located along the Eastern seaboard of the United States. Chevron was one of five shareholders of Colonial.
The Simpson Thacher team includes: Mario Ponce and Louis Pastor (M&A); Nancy Mehlman and Sean Austin (Tax); Adeeb Fadil (Environmental); and Alvin Brown and Jennifer Pepin (Executive Compensation and Employee Benefits).