Plains All American, Magellan Midstream, OMERS Infrastructure Announce Joint Ownership of BridgeTex Pipeline Company
Vinson & Elkins advised Plains All American Pipeline, L.P. (“Plains”) in an agreement between certain subsidiaries of Plains, Magellan Midstream Partners, L.P. (“Magellan”) and OMERS, the defined benefit pension plan for municipal employees in Ontario, Canada (“OMERS”) along with OMERS Infrastructure Management Inc. (“OMERS Infrastructure”), the infrastructure investment manager of OMERS, whereby Plains and Magellan will collectively sell a 50% interest in BridgeTex Pipeline Company, LLC for $1.438 billion.
BridgeTex owns the BridgeTex pipeline, a 400,000 barrel-per-day crude oil pipeline system that extends from Colorado City in West Texas to Houston.
The V&E corporate team was led by partner Doug Bland and associate Caroline Kuehn with assistance from associate Josh Rocha and senior associate Luke Edney. Also advising were partners Todd Way and Ryan Carney and associates Brian Russell and Lauren Meyers; partner David Wicklund and associate Maya Bobbitt; partner Billy Vigdor, counsel Dan Gerkin and associate Ryan Stalnaker; partner Larry Nettles; associate Kristy Fields; partner Sean Becker; and partner Pat Mizell, counsel Carly Milner and associate Kallie Gallagher.
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