Sidley represented the Conflicts Committee of USD Partners LP in connection with USD Partners’ agreement to acquire entities owning the Hardisty South terminal assets from USD Group LLC, exchange USD Group’s economic general partner interest (GP interest) in the partnership for a non-economic GP interest, and eliminate USD Group’s incentive distribution rights (IDRs) in the partnership for total consideration of US$75 million in cash and approximately 5.75 million common units.
The Sidley team was led by partners George Vlahakos and Angela Richards, with support from senior managing associate Kayleigh McNelis and managing associate Tanner Groce. The team also included partners Heather Palmer (Environmental) and Edward Sharon (Antitrust/Competition), as well as associates Sabina Wahl and Kiana Shin (Energy).