Milbank LLP represented global alternative asset manager Apollo (NYSE: APO) in connection with Apollo-managed funds and affiliates’ $9 billion nonvoting minority equity investment in ONEOK, Inc. (NYSE: OKE), one of the largest integrated energy infrastructure companies in North America.
The minority equity investment will fund ONEOK’s $4.425 billion acquisition of Brazos Midstream's Permian Midland Basin natural gas gathering and processing assets. The acquisition more than doubles ONEOK's Midland Basin processing capacity and establishes one of the Permian Midland Basin's largest integrated natural gas gathering and processing platforms.
ONEOK intends to use $5 billion of proceeds from the equity investment to reduce ONEOK’s existing indebtedness.
Click here to read the official press release.
The Milbank team is led by Global Corporate/M&A partner and co-head of Milbank’s Global Infrastructure practice John Franchini, Global Project, Energy and Infrastructure Finance Group chair Dan Bartfeld and partners Sean O’Neill and Benjamin Fidler.
The team also includes associates Marc Kilani, Cleopatra Gray, Jacklyn Weon, Nick Curcio, Scott Clark, Olivia Scandura, Verde d’Aquino and Jaqueline Pasquel; partners Evan Roberts, Adam Brenneman, Andrew Walker, Max Goodman, Grant Bermann, John Beahn, Mike Shah and Matthew Ahrens; special counsel Gonzalo Guitart, John Garces, Christopher Terhune and Carlos Clemente; associates Isobel Smith, Rita Halabi, John Ceccio, Melan Patel, Clayton Melton, Rebecca Myshrall, Devin Kern, Allison Sloto, Rachel Rice, Evan Wainer, Michaela Fleischer and Jordan Pool; and law clerks Charlene Sun and Mo Zeighami.
