White & Case Advises Macquarie Infrastructure Corporation on US$2.685 Billion Sale of IMTT to Riverstone Holdings

Press Release
2 min read

Global law firm White & Case LLP has advised Macquarie Infrastructure Corporation in connection with its sale of International-Matex Tank Terminals to Riverstone Holdings LLC for a total consideration of US$2.685 billion, subject to customary closing adjustments. The transaction is expected to close in late 2020 or early in 2021, subject to satisfaction of all conditions precedent set forth in the purchase agreement including receipt of, among others, regulatory approvals, accuracy of representations and warranties, and receipt of consents and waivers.

Macquarie Infrastructure Corporation (MIC) owns and operates a diversified group of businesses providing basic services to customers in the United States. Its businesses consist of a bulk liquid terminals business, International-Matex Tank Terminals, an airport services business, Atlantic Aviation, and entities comprising an energy services, production and distribution segment, MIC Hawaii.

The White & Case team that advised on the transaction was led by partners Steven Tredennick in Houston and Morton Pierce and Michelle Rutta in New York. The team also included partner Mark Holmes, associate Forrest Brown (Debt Finance), counsel Morgan Hollins, associates Ted Seeger, Luisa Muskus, Chris Hebert, Kabir Phaguda and Clint Farha (M&A); Nicole Rodriguez-Fierro, Chantal Carriere (Project Development & Finance), all in Houston; partners Seth Kerschner (Environmental), Steve Lutt, associates Julianne Prisco (Real Estate), Suni Sreepada, Brittany Curcuru, Kelly Funderburk, M.K. Kang and Jordan Beals (M&A); partner David Dreier, counsel Isaac Tendler and associate Narissa Lyngen (Tax); partner Henrik Patel, counsel Kenneth Barr and associate Caroline Cima (ECB); partner Arlene Hahn, associates Elle Davis and Jerry Lee (Tech Transactions); partner Gregory Owens, associates Yehuda Rubel and Joe Babitz (Debt Finance); partner Ray Azar and associate Jeffrey Godly (Project Development & Finance), all in New York; partner Cristina Brayton-Lewis and associate Sandra Jorgensen (International Trade); partners George Paul and Rebecca Farrington, associate Alexander Andresian, Tamer Nagy (Antitrust/Competition) and counsel Paul Pittman (Data, Privacy & Cybersecurity) all in Washington DC.

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