Locke Lord Partners Brad Weber and Van Jolas (both of Dallas) represented Generation Pipeline LLC and its owners in connection with a Federal Trade Commission investigation of a transaction involving the sale of Generation Pipeline to NEXUS Gas Transmission, LLC, and its member companies, DTE Energy Company and Enbridge Inc., for approximately $160 million. Generation Pipeline owns and operates a 23-mile pipeline in a three-county area of Northern Ohio that includes Toledo. The parties’ original purchase agreement included a non-compete clause that would have prevented one of Generation Pipeline’s owners from competing against the company for three years after the sale. The FTC issued a second request for additional information concerning the proposed transaction in March 2019, and after extensive discovery and negotiations with the FTC, the parties reached a consent agreement that included the removal of the non-compete clause from the purchase agreement. As a result of this consent agreement, the FTC withdrew its challenge to the transaction and voted unanimously to approve the deal.
Locke Lord Partner Bill Swanstrom (Houston) led a deal team in representing Generation Pipeline and its partners in the transaction that required FTC approval. Additional Locke Lord lawyers involved with the transaction included Ben Cowan, Sara Longtain, Tammi Niven, Ed Razim, Mitch Tiras, Liz Genter and Matt McKenna (all of Houston).
Posted on September 18, 2019