Latham, Baker Botts Steer Shell Midstream Deals Worth $3.8B

Law360 (February 28, 2020, 5:25 PM EST) -- Shell Midstream Partners said Friday it will make a pair of acquisitions and simplify its corporate structure by eliminating incentive distribution rights and economic general partner interests in deals worth roughly $3.8 billion shaped by Latham & Watkins LLP and Baker Botts LLP.

The Houston-based master limited partnership said it will also acquire certain offshore and logistical assets from entities affiliated with its sponsor, Royal Dutch Shell PLC. The oil and gas giant formed Shell Midstream Partners LP, also called SHLX, in 2014 to own, operate and develop pipelines and other midstream assets.

As consideration for the restructuring and acquisitions, SHLX...

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