Shearman & Sterling will advice AmeriGas Partners on $2.9 billion acquisition deal
AmeriGas Partners plans to buy the propane operations of Energy Transfer Partners. The deal of about $2.9 billion is expected to close by early 2012. The firm will pay Energy Transfer $1.5 billion in cash and $1.3 billion in stock and will assume $71 million in debt from Heritage Operating and Titan Energy Partners, the two company divisions. This deal is the third multibillion dollar energy transaction announced in the past two days. Norway's Statoil announced Monday, about the acquisition of Austin for $4.4 billion in cash and Kinder Morgan announced Sunday about El Paso Corporation acquisition for $21.1 billion. Shearman & Sterling is its legal counsel on the Energy Transfer partners' acquisition. Vinson & Elkins will advice Energy Transfer Partners on the deal.
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Shearman & Sterling Will Advice Amerigas Partners on $2.9 Billion Acquisition Deal
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