Buckeye Partners, L.P.’s Sale of its Interest in VTTI B.V.

On November 2, 2018, Buckeye North Sea Coöperatief U.A., a wholly owned subsidiary of Buckeye Partners, L.P., entered into an agreement to sell its 50% interest in the outstanding share capital of VTTI B.V., a leading global provider of energy storage, to Vitol Investment Partnership II Ltd and IFM Investors for cash consideration of $975 million. Cravath is representing Buckeye Partners, L.P. in connection with the transaction.

The Cravath team is led by partners G.J. Ligelis Jr. and Faiza J. Saeed and includes associates Daniel J. Cerqueira and Michael Zhang on M&A matters, and partners Stephen L. Gordon and Christopher K. Fargo and associate Ashley N. Elnicki on tax matters. Yiting Li also worked on M&A matters.