Hunton Andrews Kurth LLP Represents Vopak and BlackRock in the Purchase of US Gulf Coast Terminal Assets from Dow for $620 Million

Hunton Andrews Kurth represented Royal Vopak (“Vopak”) and BlackRock’s Global Energy & Power Infrastructure Fund (“BlackRock”) in the formation of a joint venture, Vopak Industrial Infrastructure Americas, LLC (“VIIA”), and then in VIIA’s subsequent purchase of three of The Dow Chemical Company’s (“Dow”) chemical storage terminals on the US Gulf Coast for $620 million. The transaction includes marine and storage terminal operations and assets at Dow’s sites at Plaquemine and St. Charles, Louisiana and Freeport, Texas. The sale to the newly established VIIA, owned equally by Vopak and BlackRock, is expected to close before year end 2020. Hunton Andrews Kurth also represented VIIA in negotiating the long-term service agreements with Dow for storage and infrastructure services that VIIA and Dow will enter into at closing. Dow expects Vopak’s terminal expertise and capabilities will deliver additional operational efficiencies and opportunities for growth.

The Hunton Andrews Kurth team was led by partner Parker Lee, with assistance from partner Harve Truskett and associates Ming Lei and Rachel Morico. Partner Mark Thurber provided assistance on the marine and terminal services agreements; senior attorney Matthew Stuart provided assistance on the site services agreements; partner Conor Shary and associate Madison Amons provided real estate advice and assistance on the ground leases; partners Mike O’Leary and Eric Markus and associates Chris Adcock, Alex Miron, Sevren Gourley, Michael Wright, Samantha Siegler and Charles Matthews provided general corporate advice and assistance on the joint venture agreements; partner Ryan Ketchum provided assistance on the operating services agreement; partners Tom Ford and Allison Mantor and associate Tim Strother provided tax advice; partner Lisa Shelton provided environmental advice; partner Alan Marcuis and associate Lukas Moffett provided advice on labor and employment matters and partner Emily Cabrera provided advice on employee benefits matters; partner Neil Kelly provided litigation advice; associate Lee Davis provided intellectual property advice; partner Kevin Hahm, counsel Kristina Van Horn and associate Catherine Kordestani provided antitrust advice; and partner Rich Warren provided advice on representations and warranty insurance matters.