News Releases

Baker Botts Represents the Conflicts Committee of Williams Partners L.P. in its $11.4 Billion Financial Repositioning

Release
Deal Description:  The Williams Companies, Inc. and Williams Partners L.P. today announced an agreement to permanently waive payment obligations under the incentive distribution rights in Williams Partners held by Williams and to convert Williams’ economic general partner interest into a non-economic general partner interest for 289 million newly issued Williams Partners common units.  The estimated transaction value is approximately $11.4 billion.

Williams also announced that it expects to purchase newly issued common units of Williams Partners in a private placement. 

The IDR waiver and the unit private placement were evaluated, negotiated and approved on behalf of Williams Partners by the Conflicts Committee of Williams Partners, comprised solely of independent directors, and by the board of directors of the general partner of Williams Partners, and on behalf of Williams by the board of directors of Williams.

Baker Botts represented the Conflicts Committee of Williams Partners in the transactions.

Baker Botts Lawyers/Office Involved:  
Corporate: Josh Davidson (Partner, Houston); Tull Florey (Partner, Houston); Travis Wofford (Senior Associate, Houston); Jennifer Wu (Associate, Austin); Stephen Noh (Associate, Houston)

Tax: Michael Bresson (Partner, Houston); Chuck Campbell (Special Counsel, Houston)

For more information, please see Williams Partners L.P.'s news release.

 

ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm of approximately 725 lawyers practicing throughout a network of 14 offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy and technology sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.

Practices

Related Professionals