Latham & Watkins Advises GIP in $850M Acquisition

Global Infrastructure Partners (GIP), a leading, independent global infrastructure investor, has announced that its second fund, Global Infrastructure Partners II, has agreed to acquire from a consortium of institutional investors managed by Hastings Funds Management (USA), Inc. and Zachry American Infrastructure, LLC an equity interest in Freeport LNG Development, L.P., currently anticipated to be 25% at closing with no further ownership in Freeport LNG by the Sellers. As noted in the company news release, below, the purchase price for the transaction is $850 million, subject to certain milestones and purchase price adjustments.

Latham & Watkins LLP represents GIP in the transaction with a corporate deal team led by partners Edward Sonnenschein and Eli Hunt with associate Christopher McGuire.  Assistance was also provided by partner David Raab on tax, partner Andrea Schwartzman on investment fund matters and partner Kenneth Simon on regulatory matters. With the exception of Mr. Simon, who is based in Washington, D.C., the deal team is based in New York.