On August 11, 2015, ONEOK Partners, L.P., a publicly traded master limited partnership (NYSE: OKS) (“ONEOK”), signed a Common Unit Purchase Agreement providing for the sale of approximate 3.3 million common units representing limited partner interests of ONEOK to funds managed by Kayne Anderson Capital Advisors, L.P. (“Kayne Anderson”) at a purchase price of $30.17 per unit and aggregate consideration of approximately $100 million. The common units were offered in a registered direct offering pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission. ONEOK, Inc. (NYSE: OKE) also announced that it has agreed to purchase approximately 21.5 million common units representing limited partner interests, for a total purchase price of approximately $650 million, in a private placement from ONEOK (the “Concurrent Private Placement”). The purchase by Kayne Anderson is subject to customary closing conditions, including the closing of the Concurrent Private Placement,
and is expected to close on August 21, 2015.
Baker Botts represented Kayne Anderson in the transaction.
Baker Botts Lawyers/Office Involved: Mollie Duckworth (Partner, Austin); Robert Montgomery (Associate, Austin); Robert Goodin (Associate, Austin); Chuck Campbell (Special Counsel, Houston)
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