BSF’s Corporate Group Negotiates Joint Venture Deal on behalf of NuStar
As reported by The Deal in June 2012, Boies, Schiller & Flexner’s Corporate Group represented NuStar Energy, an oil and gas pipeline and storage company, in connection with the formation of a joint venture with Lindsay Goldberg, a New York based private equity fund, relating to NuStar’s asphalt refinery business located in New Jersey and Georgia. NuStar contributed the asphalt business into a new entity and transferred 50% of the equity to Lindsay Goldberg for $175 million. The joint venture also obtained over $500 million in inventory based credit facilities from NuStar and a syndicate arranged by The Royal Bank of Canada. The deal, which closed in September, will allow NuStar to deleverage and focus on its core pipeline business.
Partners Jason Hill and Robert Leung worked on this deal, along with associates Michael Anastasio and Sean McFarlane.