Kirkland & Ellis LLP advised Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT), a leading independent producer of specialty hydrocarbon and fuels products, on its decision to sell the ownership of its Superior, Wisconsin refinery and various related assets to Husky Superior Refining Holding Corp., a wholly owned unit of Husky Energy. Under the agreement, Husky has agreed to pay $435 million in cash plus an additional payment for net working capital, inventories and reimbursement of certain capital spending. Had the transaction closed on June 30, the additional payment would have been $61.5 million. The transaction is subject to customary closing conditions and regulatory approvals. The full release is available here.
The Kirkland team was led by corporate partners John Pitts and Bradford Rossi and associates Jesse Wallin, Lauren Swadley and Hannah Marshall; tax partner Roger Lucas and associate Anthony Sexton; environmental transactional partners Paul Tanaka and Stefanie Gitler; labor and employment partners Alexandra Mihalas, Edward Holzwanger, Scott Price and Andy Barton and associate Adria Crowe; antitrust partners Ellen Jakovic and Michael Thorpe; real estate partner Roberto Miceli; and technology & IP transactions partner Matthew Lovell.