Two Texas firms have landed key roles in a $1.3 billion deal that will see Phillips 66 Partners acquire midstream energy assets from parent Phillips 66.
Phillips 66 Partners is a master limited partnership formed by Phillips 66 to own, operate, develop and acquire midstream assets. Vinson & Elkins is advising the conflicts committee of the partnership’s board of directors in the deal. Andrews Kurth Kenyon represents Evercore, the financial adviser to the conflicts committee.
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