PE-Backed Zenith Energy Snaps Up Oil Storage MLP

Law360, New York (August 29, 2017, 1:54 PM EDT) -- International liquids and terminal company Zenith Energy LP said Tuesday that it's teaming with private equity giant Warburg Pincus LLC to buy energy logistics master limited partnership Arc Logistics Partners LP in a deal worth approximately $406 million.

Zenith Energy, which is based in Houston but owns crude oil and petroleum storage operations in Europe and Latin America, said it and Warburg Pincus are forming a U.S.-based MLP known as Zenith Energy U.S. LP, which will buy New York-based Arc Logistics and its general partner.

Zenith Energy U.S. will pay $16.50 per share for all outstanding public common units not owned...

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