Jackson Walker successfully represented NuStar Energy L.P. in its acquisition of full ownership of a refined products terminal in Linden, N.J., which is located in the New York Harbor.
The terminal was previously operated as a joint venture with Linden Holding Corp., and NuStar had 50 percent ownership of the facility. NuStar purchased the remaining ownership interest from Linden, a subsidiary of NIC Holding Corp., for $142.5 million in a transaction that was announced on Jan. 9, 2015.
NuStar is a publicly traded master limited partnership based in San Antonio, and it is one of the largest independent liquids terminal and pipeline operators in the nation. The acquisition will allow NuStar to take advantage of synergies between the Linden terminal and the Linden NuTop terminal, which was already wholly owned by NuStar.
Representing NuStar was a Jackson Walker team led by Stephanie Chandler with assistance from Julia Mann, Jesse Lotay, and Lauren Prew. Jackson Walker’s successful representation of its client in this transaction reflects the firm’s experience in all types of Mergers & Acquisitions and over 100 years of leadership in the Texas Energy sector.