Latham & Watkins Advises Plains All American on Acquisition of 100% Interest in EPIC

Latham & Watkins LLP represented Plains All American Pipeline, L.P. in its acquisitions of interests in EPIC Crude Holdings, LP from subsidiaries of Diamondback Energy, Inc., Kinetik Holdings Inc., and from a portfolio company of Ares Private Equity funds. On October 31, Plains All American Pipeline, L.P. (Nasdaq: PAA) completed the previously announced acquisition of a 55% equity interest in EPIC Crude Holdings, LP, the owner and operator of the EPIC Crude Oil Pipeline, from subsidiaries of Diamondback Energy, Inc. and Kinetik Holdings Inc. Effective November 1, Plains completed the acquisition of the remaining 45% operated equity interest in EPIC from a portfolio company of Ares Private Equity funds for a purchase price of approximately US$1.33 billion, inclusive of approximately US$500 million of debt. Together, these transactions result in Plains All American owning a 100% equity interest in EPIC. Latham & Watkins LLP represented Plains All American Pipeline, L.P. with a team composed by: Houston partners Ryan Lynch and Nick Dhesi (M&A); Houston associates Clayton Heery, Morgen Seim, and David Lee (M&A support); Houston partners Tim Fenn and Jared Grimley (tax); Washington, D.C. partners Jason Cruise and Caitlin Fitzpatrick, with associate Mary Casale (antitrust); Washington, D.C. partner Pat Nevins, with associate Jecoliah Williams (regulatory); Los Angeles/Houston partner Joshua Marnitz, with associate Kate Johnstone (environmental); Washington, D.C. partner Adam Kestenbaum, with associate Sam Sturgis (benefits); and Houston counsel Natalie McFarland, with associate Kara Burkett (finance).

Latham & Watkins Advises Plains All American on Acquisition of 100% Interest in EPIC

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