Simpson Thacher Represents KKR in Investment in El Paso Joint Venture
12.07.10
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The Firm is representing Kohlberg Kravis Roberts & Co. L.P. in connection with its investment of up to $625 million in a newly formed joint venture with El Paso Midstream Group, Inc. (“EPMG”), a subsidiary of El Paso Corporation, to invest in and develop midstream oil and gas projects. Upon the closing of the transaction, certain affiliates of KKR and EPMG will each hold 50% of the equity interest in the joint venture and EPMG will be responsible for the management of the day-to-day operations.
El Paso Corporation owns North America’s largest interstate natural gas pipeline system and one of North America’s largest natural gas producers. El Paso has interests in more than 42,000 miles of interstate natural gas pipeline serving all of the major supply regions and leading markets across the United States.
The Simpson Thacher team for the transaction includes Andrew Smith, William Freiberg and Matt Reichstein (M&A); Nancy Mehlman (Tax); Adeeb Fadil (Environmental); Krista McManus (Real Estate); Brian Chisling (Regulatory); and Lori Lesser (IP). Paralegal Issis Palomo provided valuable assistance.