Deal Description: Enviva Partners, LP (NYSE: EVA) (“Enviva” or “EVA”) today announced a definitive agreement with Enviva Holdings, LP (“Holdings”) pursuant to which it acquired all of the ownership interests in Holdings and eliminated its incentive distribution rights in exchange for 16 million EVA common units, representing total consideration of approximately $870 million based on EVA’s 20-day volume-weighted average price ending on October 13, 2021. Enviva concurrently announced that it intends to convert its organizational structure from a master limited partnership to a corporation under the name of Enviva Inc.
Baker Botts acted as legal advisor of the conflicts committee of the board of directors of Enviva’s general partner.
Enviva’s press release can be found here.
Baker Botts Lawyers/ Offices Involved:
Corporate: Michael Swidler (Partner; New York), Mike Rosenwasser (Senior Counsel; New York), Jon Kovacs (Associate; New York), Charlie Gili (Associate; New York)
Tax: Mike Bresson (Partner; Houston), Jared Meier (Senior Associate; Houston)
Environmental: Laura Williams (Associate; Houston)
ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm of approximately 650 lawyers practicing throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology, and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.