Here's the Deal
 

Baird's Investment Banking Group is pleased to announce the following transaction:

November 2012


Williams Partners L.P.
Acquisition of Williams Olefins, L.L.C.


Baird served as financial advisor and provided a fairness opinion to the Conflicts Committee of the Board of Directors of Williams Partners GP LLC


Williams Partners L.P. (NYSE: WPZ) (“WPZ” or the “Partnership”) recently completed the acquisition from the Williams Companies, Inc. (NYSE: WMB) (“Williams”) of an approximate 83% undivided interest in the Geismar olefins production facility as well as Williams’ refinery-grade propylene splitter for $2.264 billion and pipelines in the Gulf region for $100 million.

Located south of Baton Rouge, Louisiana, the Geismar facility is a light-end natural gas liquid (NGL) cracker with current inlet volumes of 39,000 barrels per day (“bpd”) of ethane and 3,000 bpd of propane and annual production of 1.35 billion pounds of ethylene. With the benefit of a significant expansion under way and scheduled for completion by late 2013, the facility’s consumption of ethane will increase to a maximum of 57,000 bpd and annual ethylene production capacity will grow by 600 million pounds to 1.95 billion pounds. WPZ’s overall undivided ownership interest following the expansion will be approximately 88%. The pipelines included in the transaction include a 212-mile ethane pipeline between Lake Charles, Louisiana and Geismar, Louisiana, a three-mile propane pipeline, a 50-mile pipeline between Port Arthur, Texas and Lake Charles, Louisiana and 60 miles of product pipelines in and around the Houston Ship Channel.

Williams Partners L.P. is a diversified master limited partnership focused on natural gas transportation; gathering, treating, and processing; storage; NGL fractionation; and oil transportation. The Partnership owns interests in three major interstate natural gas pipelines that, combined, deliver 14% of the natural gas consumed in the United States. The Partnership’s gathering and processing assets include large-scale operations in the U.S. Rocky Mountains and both onshore and offshore along the Gulf of Mexico.

For additional information about this transaction, please contact:
Managing Director
(314) 445-6540
Managing Director
(314) 445-6532
Vice President
(314) 445-6533

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