News Releases

Baker Botts Represents Valero Energy Corporation in $325 Million Drop Down of Meraux and Three Rivers Terminal Services Business

Release

Deal Description: On August 22, 2016, Valero Energy Partners LP (NYSE:VLP) (the Partnership) announced that the board of directors of its general partner has approved the Partnership’s acquisition of the Meraux and Three Rivers Terminal Services Business from a subsidiary of Valero Energy Corporation (NYSE:VLO) (Valero) for total consideration of approximately $325 million. In its first twelve months of operation, the business to be acquired is expected to contribute approximately $25 million of net income and approximately $39 million of earnings before interest, taxes, depreciation, and amortization (EBITDA). The transaction is expected to close effective September 1, 2016.

Baker Botts represented Valero Energy Corporation in this transaction.

Baker Botts Lawyers/Office Involved: Gerald Spedale (Partner, Houston); Jeremy Moore (Senior Associate, Houston); Justine Robinson (Associate, Houston); Jude Dworaczyk (Associate, Houston); and Steve Marcus (Partner, Dallas).

 

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