Akin Gump Advises Genesis Energy, LP on $1.3 Billion Acquisition of the World’s Largest Natural Soda Ash Producer and the Related Financings


Akin Gump advised Genesis Energy, LP on its pending $1.3 billion acquisition of the world’s largest natural soda ash producer and the related financings.

On August 2, Genesis entered into a purchase agreement with a subsidiary of Tronox Limited to acquire all of Tronox’s trona and trona-based exploring, mining, processing, producing, marketing and selling business. That acquisition is expected to close no later than the second half of 2017. Genesis plans to fund that acquisition with the proceeds from a $550 million public offering of notes due 2025 and a $750 million private placement of preferred units to affiliates of GSO Capital and Kohlberg, Kravis and Roberts. The notes offering closed on August 14, and the private placement will close contemporaneously with that acquisition closing.

Patrick J. Hurley and J. Vincent Kendrick, corporate partners in the firm’s oil and gas group, led the Akin Gump teams advising Genesis in those three transactions. Other members of the acquisition team included corporate oil and gas partner David Sweeney, counsel Christopher Centrich, associates Erik Shoemaker and Randy Santa Ana and senior practice attorney Shane Sullivan; tax partner Alison Chen; environment and natural resources partner David Quigley and senior counsel Andrew Oelz; labor and employment partner Lauren Leyden, counsel Desiree Busching and senior counsel Michael Gerald; and antitrust partners Paul Hewitt and Davina Garrod, senior practice attorney Stacy Kobrick and associate Alaric Green.

Other members of the notes offering team included corporate partner Chip Cowell and associates Patrick Moneypenny and Jacob Johnson, Ms. Chen and Messrs. Centrich, Shoemaker and Santa Ana.

Other members of the private placement team included corporate counsel Matthew Wendlandt and associate Chase Armbrust, Ms. Chen and Messrs. Cowell and Moneypenny.