Sidley Represents Macquarie Asset Management in a Partnership With Dow Valued Up to US$3 Billion

Sidley is representing a fund managed by Macquarie Asset Management, a leading global infrastructure investor, in its agreement to acquire a 40% equity stake in select U.S. Gulf Coast infrastructure assets from Dow Inc., with an option to increase its equity stake to 49% within six months after closing. The new partnership, Diamond Infrastructure Solutions, will be a specialist infrastructure provider to Dow and other industrial customers at five of Dow’s manufacturing sites in Texas and Louisiana. Dow expects to receive initial cash proceeds of approximately US$2.4 billion based on the initial transaction, with the potential to receive up to approximately US$3 billion in total. 

The Sidley team is being led by Tommer Yoked, Ashley Moulder, Chris Folmsbee, and Glenn L. Pinkerton, and included Jack G. Messer, Kevin E. Hess, Nick J. Kalina, Elaina Johnson, Logan M. Kiefer, Ayo Adaranijo, Choa Song, Daniel F. Allison, Joe Zenruffinen, Katy Yu,  Jeremy B. Pettit, Rebekah J. Maloney, Terence T. Healey, Grace Dickson Gerbas, Jordan I. Lee, Harvey Lou, Harris R. Dubin, Evan Grosch, and Jeff Kinney (all Energy and Infrastructure/ M&A); Rachel D. Kleinberg, Andrew B. Smith, and Patrick M. Gray (Tax); Heather M. Palmer (Environmental); Eric M. Winwood and Marian Fielding (Employee Benefits and Executive Compensation); Beatriz Azcuy, Connor T. Evans, Alison J. Wynne, and Robert Piti Pertierra (Real Estate); Cathryn Le Regulski, Katherine A. Roberts, and Sara E Salmonson (Employment); Robert S. Velevis and Ernesto R. Claeyssen (Commercial Litigation and Disputes); Scott J.F. Goldstein (Insurance); Ash Nagdev (Privacy and Cybersecurity); and Patrick J. Harrison, Edward W. Sharon, and Alex Harper (Antitrust and Competition).