An undisclosed buyer acquired 36% stake in Cameron Highway Oil Pipeline Company from Genesis Energy, L.P. for approximately $420 million.
November 17, 2021
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An undisclosed buyer acquired 36% stake in Cameron Highway Oil Pipeline Company from Genesis Energy, L.P. (NYSE:GEL) for approximately $420 million on November 17, 2021. Post-completion, Genesis Energy will continue to hold 64% stake in Genesis Energy. Proceeds from the sale, net of fees and expenses, will be used to repay the full $300 million term loan with the remainder going to pay down outstanding amounts under the revolving portion of senior secured credit facility. Citi served as financial advisor and Akin Gump Strauss Hauer & Feld LLP served as legal advisor to Genesis. Bofa securities acted as Financial advisor to the undisclosed acquirer.
An undisclosed buyer completed the acquisition of 36% stake in Cameron Highway Oil Pipeline Company from Genesis Energy, L.P. (NYSE:GEL) on November 17, 2021.RBC Capital Markets acted as Financial Advisor to the Undisclosed Buyer.
Genesis Energy L.P. is a provider of integrated suite of midstream services to the Gulf of Mexico and the Gulf Coast region of the crude oil and natural gas industry, and producer of natural soda ash. The Company operates through four segments: Offshore Pipeline Transportation, Sodium and Sulfur Services, Onshore Facilities and Transportation, and Marine Transportation. Its Offshore Pipeline Transportation segment includes its offshore crude oil and natural gas pipeline transportation and handling operations in the Gulf of Mexico. Its Sodium and Sulfur Services segment includes its alkali business and its sulfur removal business. Its Onshore Facilities and Transportation segment owns and/or leases its range of onshore crude oil and refined products infrastructure, including pipelines, trucks, terminals, and rail unloading facilities. The Companyâs Marine Transportation segment is a provider of transportation services by tank barge primarily for intermediate refined petroleum products.
GENESIS ENERGY, L.P. 
