Private equity firm First Reserve announced on Monday that it had sold its 80 percent stake in Bahamas Oil Refining Company International (BORCO)–the Caribbean’s largest owner and operator of marine storage facilities for oil and petroleum products, according to Bloomberg–to oil investor Buckeye Partners for $1.36 billion.
Simpson Thacher & Bartlett is advising affiliates of First Reserve on the sale. M&A partner William Curbow, tax partner Nancy Mehlman, employee benefits partner Brian Robbins, banking and credit partner J. Alden Millard, Jr., and senior environmental counsel Adeeb Fadil took the lead from the firm working on the transaction.
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