Baker Botts Represents BP p.l.c. in its Acquisition of BP Midstream Partners LP
Deal Description: On December 20, 2021, BP p.l.c. (NYSE: BP) and BP Midstream Partners LP (NYSE: BPMP) announced a definitive merger agreement pursuant to which a BP U.S. affiliate will acquire all of the outstanding public common units of BPMP not already owned directly or indirectly by BP, representing 47,837,828 common units, in an all-stock transaction whereby each outstanding unitholder of BPMP would receive 0.575 of an American Depositary Share of BP in exchange for each BPMP common unit owned. Following consummation of the merger, BPMP will become an indirect wholly owned subsidiary of BP.
Baker Botts represented BP p.l.c.
Client: BP p.l.c.
In-House Counsel for BP p.l.c.: Yevgeniy (Eugene) Nikulin
Baker Botts Lawyers/Office Involved:
Corporate: Joshua Davidson (Partner, Houston); Nigel Stacey (Partner, London); Sian Williams (Partner, London); Jamie Yarbrough (Senior Associate, Houston); Parker Hinman (Associate, Houston)
Tax: Michael Bresson (Partner, Houston); Derek Green (Partner, Houston); Chuck Campbell (Special Counsel, Houston); Graham Brough (Special Counsel, London)
For more information, please see BP’s and BPMP’s news release here.
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