Phillips 66 Partners Acquires Interest in Liberty Pipeline
Vinson & Elkins advised the conflicts committee of the board of directors of the general partner of Phillips 66 Partners in connection with Phillips 66 Partners LP’s agreement with Phillips 66 to acquire its 50% interest in the Liberty Pipeline project for approximately $75 million.
Headquartered in Houston, Phillips 66 Partners is a growth-oriented master limited partnership formed by Phillips 66 to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum products and natural gas liquids pipelines, terminals and other midstream assets.
The V&E corporate team was led by of counsel Alan Bogdanow and partner Peter Marshall, with assistance from associates Lucy Liu, Cameron Land and Luke Strieber. Also advising were counsel Damien Lyster and associate Melan Patel; counsel Scot Dixon; counsel Brandon Tuck and senior associate Jennifer Cornejo; and partner Jim Meyer and associate David Gilbert.
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