A Locke Lord team led by Mitch Tiras (Houston) represented Momentum Midstream in the sale of the company’s 38 percent stake in Utica East Ohio Midstream system (UEO) to Williams Cos. The transaction closed on March 18, 2019. The acquisition was part of a newly established joint venture for UEO and the Ohio Valley Midstream system (OVM), valued at approximately $3.8 billion. Williams Cos. will assume ownership of UEO and will retain 65 percent ownership of the UEO and OVM joint venture with Canada Pension Plan Investment Board purchasing the remaining 35 percent interest. Additional team members included Laura Ferguson, Sara Longtain, Ed Razim and Buddy Sanders (all of Houston), Geoff Polma (Dallas), and Tom Knight (Washington, D.C.).
Posted on March 19, 2019