Locke Lord Guides Regency's $1.5B Permian Basin Assets Buy

Law360, New York (February 28, 2013, 12:20 PM EST) -- Regency Energy Partners LP will swallow Southern Union Gathering Co. LLC in a deal worth $1.5 billion, gaining a 5,600-mile oil and gas gathering system and processing facilities to help beef up its business in west Texas' liquids-rich Permian Basin, the buyer said late Wednesday.

In the transaction, Regency will issue $900 million in new stock to Southern Union, including $150 million in Class F units that are not eligible to receive returns distributions for eight quarters after the deal closes. The company will cover the...
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