Paul Hastings Represents Atlas Energy Group, LLC in Financing Following Spin-Off in Connection with Targa Merger Transactions
New York, NY/ Houston, TX - Paul Hastings LLP, a leading global law firm, announced today that the firm represented Atlas Energy Group, LLC in its financing with Deutsche Bank AG and other lenders in connection with the spin-off transactions contemplated by the mergers of Atlas Energy, L.P. with a subsidiary of Targa Resources Corp. (NYSE: TRGP) and Atlas Pipeline Partners, L.P. with a subsidiary of Targa Resources Partners LP (NYSE: NGLS).
As a result of the spin-off transactions, Atlas Energy Group, LLC is a publicly traded, master limited partnership that holds all of the non-midstream assets formerly held by Atlas Energy, L.P., including the following interests: all of the general partner interest, incentive distribution rights and an approximate 28% limited partner interest in upstream oil & gas subsidiary, Atlas Resource Partners, L.P.; the general partner interests, incentive distribution rights and limited partner interests in its private E&P development subsidiary; and a general partner interest in Lightfoot Capital Partners, an entity that invests directly in energy-related businesses and assets.
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