Kaye Scholer Advises Gulf Coast Asphalt Company in Sale of Marine Terminal and Rail Car Unloading Facilities
Kaye Scholer advised Gulf Coast Asphalt Company, L.L.C. (GCAC) in the sale of its Mobile, Alabama marine terminalling facility and Saraland, Alabama rail transloading facility to Arc Terminals LP. The Mobile Terminal is a 1.2 million barrel facility that handles asphalt, crude oil, heavy fuel oil and methanol for third party customers. The transloading facility transfers heavy crude oil and specialty products from railcars to Arc’s Mobile area terminals where products can then be stored, blended and delivered into marine vessels.
GCAC will remain an Arc customer under a long term contract at the Mobile Terminal to facilitate its heavy oils marketing and trading operations, which GCAC retained and will continue to operate independently. GCAC and Arc also will continue pursuing a joint Canadian National Railway Company direct crude rail project in the Mobile area.
The Kaye Scholer deal team was headed by Partner Steven Canner and included Partners Jeff London and Jeff Scheine, Special Counsel Lynn Fisher, Counsel Charles Kao and David Sausen, and Associate Suin Suh.
Kaye Scholer advises clients on M&A, private equity, capital markets, structured finance and other transactions related to energy & infrastructure investments, including renewable energy production tax credits. The firm’s Energy & Infrastructure group regularly counsels clients on planning, structuring, financing, siting, permitting, construction, risk management, quality control, operations and regulatory aspects of energy projects. We offer a multidisciplinary approach to solve issues specific to the sector ranging from performing regulatory due diligence on proposed energy portfolio investments and resolving rate disputes to the financing of PPPs and evaluating the potential impact that environmental, real estate or tax issues may have on an energy transaction.
About Kaye Scholer LLP
Founded in New York in 1917, Kaye Scholer combines the continuity and business acumen of a century-old law firm with a forward-looking, tech savvy, results-driven approach focused around lasting client relationships. With industry strengths in life sciences, financial services, technology, real estate and energy & infrastructure, Kaye Scholer offers strategic guidance and legal services to public and private entities facing litigation, transactional or governance challenges. Kaye Scholer’s lawyers regularly advise on matters across multiple legal jurisdictions, including in the US, Canada, UK, EU, China and Japan.
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