December 17, 2019 | 1 minute read

HOUSTON – Bracewell LLP is serving as counsel to the Conflicts Committee of the Board of Directors of the General Partner of Tallgrass Energy, LP (NYSE: TGE) in connection with a merger agreement pursuant to which affiliates of Blackstone Infrastructure Partners together with affiliates of Enagas, GIC, NPS and USS (collectively with Blackstone Infrastructure Partners, the Sponsors) have agreed to acquire all of the publicly held outstanding Class A Shares of TGE for $22.45 in cash per Class A Share.

As part of the transaction, the Conflicts Committee of the Board of Directors of TGE’s General Partner, after consultation with its independent legal and financial advisors, unanimously approved the transaction and determined it to be in the best interests of TGE and its public shareholders.

The transaction is expected to close in the second quarter of 2020, subject to the satisfaction of customary conditions, including approval by holders of a majority of the outstanding Class A and Class B Shares of TGE, voting together as a single class, inclusive of the approximately 44 percent of the total Class A and Class B Shares held by the Sponsors. Upon closing of the transaction, the Class A Shares will cease to be publicly traded.

The Sponsors expect to fund the purchase of the Class A Shares with approximately $3 billion of equity, with the remainder of the funding necessary to consummate the transaction provided by debt.

Bracewell lawyers involved in the transaction included:

Partners: Troy L. Harder, Gary W. Orloff, Heather L. Brown, Daniel E. Hemli and Tony L. Visage

Counsel: Jennifer N. Dill

Associates: Andrew W. Monk