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