Stephanie Chandler Represents NuStar Energy L.P. in $250M Sale of St. Eustatius Terminal
Jackson Walker represented NuStar Energy L.P. (NYSE:NS) in a definitive stock purchase agreement to sell its storage terminal facility located at St. Eustatius in the Caribbean to Prostar Capital for approximately $250 million, subject to adjustment. Announced on May 10, 2019, the transaction is expected to close in the second quarter.
Based in San Antonio, NuStar Energy is one of the largest independent liquids terminal and pipeline operators in the nation. NuStar has approximately 9,800 miles of pipeline and 75 terminal and storage facilities that store and distribute crude oil, refined products, and specialty liquids. The publicly traded master limited partnership’s combined system has more than 88 million barrels of storage capacity with operations in the United States, Canada, Mexico, and St. Eustatius in the Caribbean.
Prostar Capital is a private investment firm that purchases global midstream energy infrastructure assets focused on the gathering, processing, storage, transmission, and distribution of energy. Prostar has originated and managed energy infrastructure investments representing more than $400 million of equity capital invested. The firm operates from offices in Sydney, Hong Kong, and Greenwich, Connecticut.
Representing NuStar was a Jackson Walker team led by Stephanie L. Chandler with assistance from Steven R. Jacobs, Noah Speck, Shari Mao, and Christopher A. Thompson. To explore Jackson Walker’s experience handling mergers, acquisitions, and divestitures for public companies and the Firm’s more than 100-year history representing pipeline and midstream clients, view the Corporate & Securities and Energy practice pages.
More information about the transaction can be found on the Business Wire press release and the San Antonio Express-News’ “NuStar Energy exits Caribbean market with $250 million sale of St. Eustatius terminal.”
Stephanie L. Chandler is a San Antonio transactional lawyer with experience in mergers and acquisitions and transactions in the energy industry. It is her unique grasp of the underlying fundamentals of the energy industry, together with her deep-seated work ethic and client commitment, that makes her a sought after professional in complex acquisitions such as those involved in midstream assets.
She has been recognized as one of 100 national Influencers in the area of Law by American City Business Journals (2018), with a Women’s Leadership Award from the San Antonio Business Journal (2017), in Chambers USA: America’s Leading Lawyers for Business (2017 and 2019), by The Best Lawyers in America in Business Organizations (including LLCs and Partnerships) (2017-2019) and in Mergers and Acquisitions Law (2019), Who’s Who in Energy by the American City Business Journals, 2012-2015, and Best S.A. Lawyers by the San Antonio Scene, 2009, 2012-2015, 2017-2019 in three areas of practice (Business & Corporate, Mergers & Acquisitions and Energy & Oil & Gas). She recently concluded her service as the Chapter President of the Women’s Energy Network – San Antonio, on the Board of Directors of the Masters Leadership Program where she currently co-chairs the Economic Development Day, and on the Board of Directors of United Way of Bexar County. Stephanie received her B.S.B.A. from the University of Nebraska in Finance and her J.D. from the University of Virginia School of Law.