Cheniere Energy Submits Proposal to Board to Acquire Outstanding Shares of Cheniere Energy Partners LP Holdings

May 16, 2018

S&C client Cheniere Energy, Inc. (Cheniere) submitted a proposal to the board of directors of Cheniere Energy Partners LP Holdings, LLC (CQH) to acquire all of the outstanding shares of CQH not already owned by Cheniere. Cheniere currently owns 91.9 percent of CQH. The proposed stock-for-stock exchange values each common share of CQH at $28.24, and the proposal values CQH at approximately $6.54 billon.

Cheniere is a Houston-based energy company primarily engaged in LNG-related businesses, which own and operate the Sabine Pass LNG terminal and the Creole Trail Pipeline in Louisiana. Through its subsidiary, Cheniere Energy Partners, L.P., Cheniere also is developing a liquefaction project near Corpus Christi, Texas. S&C also acts as finance counsel to Cheniere for its Corpus Christi liquefaction project.

The S&C team representing Cheniere with respect to its proposed acquisition of CQH was led by Frank Aquila and Krishna Veeraraghavan, along with Daniel Belke, Mimi Wu, Patrick Salvo and Aaron Levine. Catherine Clarkin and James Shea advised on securities law matters and Andrew Mason and Ronald Creamer, along with Max O'Neill and Tessa Lee advised on tax matters.