Andrews Kurth Kenyon represents Energy Transfer Partners (ETP) of Dallas in its pending $640 million purchase of an interest in Houston’s PennTex Midstream Partners, which turned to Latham & Watkins.
ETP announced on Oct. 25 a definitive agreement to acquire interests in the general partner in PennTex Midstream. Upon closing, ETP will own 100 percent of the general partner of PennTex Midstream and all of its incentive distribution rights, and common and subordinated units that represent 65 percent of the total limited partner interests in PennTex Midstream. ETP and PennTex Midstream are both master limited partnerships.
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