Jackson Walker Represents NuStar Energy in $115 Million Refinery Sale
Jackson Walker successfully represented client NuStar Energy L.P. in the sale of its San Antonio refinery and related assets to Calumet Specialty Products Partners, L.P. for $100 million, plus closing date inventory of approximately $15 million. The deal closed on Jan. 2, 2013. The related assets included a terminal in Elmendorf, Texas, and a pipeline connecting the terminal and refinery.
Based in San Antonio, Texas, NuStar, a publicly traded master limited partnership, is one of the largest independent liquids terminal and pipeline operators in the country. NuStar’s sale of its San Antonio refinery assets is in keeping with the company’s strategic decision to move away from the refining business in order to further develop its pipeline and storage operations through internal growth projects and acquisitions, especially in the Eagle Ford Shale region and other U.S. shale plays, where NuStar already has extensive pipeline and storage operations.
Representing NuStar was a Jackson Walker team led by Stephanie Chandler which included Janie James, Peter Hosey, J. Scott Rose, and Jesse Lotay. Jackson Walker’s successful representation of its client in this transaction reflects the firm’s expertise in all types of Mergers & Acquisitions and over 100 years of leadership in the Texas Energy sector.