Davis Polk Advises Warburg Pincus on Energy Transfer LP’s Acquisition of SemGroup Corporation

Davis Polk is advising Warburg Pincus LLC as a selling shareholder in connection with the $5.1 billion acquisition by Energy Transfer LP of SemGroup Corporation. The transaction is expected to close by late 2019 or early 2020, subject to SemGroup shareholder approval, regulatory approvals and other customary closing conditions.

Warburg Pincus is a global private equity firm focused on growth investing with more than $65 billion in assets under management and has invested more than $77 billion in over 870 companies in more than 40 countries. Headquartered in Tulsa, Oklahoma, SemGroup moves energy across North America through a network of pipelines, processing plants, refinery-connected storage facilities and deep-water marine terminals with import and export capabilities. Energy Transfer provides energy-related services in the United States and China, owning and operating approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas and approximately 12,200 miles of interstate natural gas pipelines.

The Davis Polk corporate team includes partners John D. Amorosi and Darren M. Schweiger and associate Abigail G. Hathaway. All members of the Davis Polk team are based in the New York office.