“Western Gas Partners, LP to Acquire Nuevo Midstream, LLC for $1.5 Billion”
Nuevo Midstream, LLC (“Nuevo”) and Nuevo’s private equity backer, EnCap Flatrock Midstream (“EFM”), today announced that Western Gas Partners, LP WES (“Western Gas”) will acquire Nuevo for $1.5 billion in cash. The transaction is expected to close by the end of the year, pending the completion of customary regulatory approvals and closing conditions.
Barclays is serving as sole financial advisor to Nuevo. Vinson & Elkins LLP is acting as the company’s legal advisor. Thompson & Knight LLP serves as legal counsel to EnCap Flatrock Midstream. Akin Gump Strauss Hauer & Feld LLP is legal advisor to Western Gas.