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Moda Midstream and EnCap Flatrock Midstream Agree to Sell Moda Ingleside Energy Center and Other Assets to Enbridge for $3 Billion

Moda Midstream and EnCap Flatrock Midstream Agree to Sell Moda Ingleside Energy Center and Other Assets to Enbridge for $3 Billion Background Image

Vinson & Elkins advised liquids terminaling and logistics company Moda Midstream, LLC (“Moda”) in a transaction whereby Moda and its financial sponsor EnCap Flatrock Midstream will sell the Moda Ingleside Energy Center and other Moda assets to Enbridge Inc. for an enterprise value, net of working capital and cash, of approximately $3 billion, subject to closing adjustments.

The V&E corporate team was led by partners Alan Beck and Matt Falcone, with assistance from senior associate Yong Eoh and associates Kara Chung and Kene Obi. Other key team members included partner Ryan Carney and associate Adam Bateman; partner Shane Tucker and counsel Dario Mendoza; partner Sean Becker; partner David Wicklund, senior associate Caitlin Snelson and associate Frank George; partner Matthew Dobbins; counsel Sarah Mitchell; counsel Scot Dixon; partner Devika Kornbacher, senior associate Sean Hill and associate Marcus Martinez; partner Darren Tucker and senior associate Evan Miller; partner Christopher Popov; and partner Michael Ward.

About Vinson & Elkins
For more than 100 years, Vinson & Elkins has provided deep experience in handling transactions, investments, projects, and disputes worldwide. The firm is a trusted adviser to clients in the most important industrial and digital industries. Learn more by visiting www.velaw.com or follow us on Twitter @VinsonandElkins or connect with us on LinkedIn.

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