Overview
(July 17, 2020, Washington, DC) — Steptoe served as counsel to funds managed by Oaktree Capital Management, L.P. (Oaktree) in the acquisition of Dow, Inc.'s rail infrastructure assets and related equipment by Watco Companies, LLC, a Kansas-based transportation company. On July 6, Dow announced its decision to sell its rail infrastructure assets to Watco, in partnership with Oaktree, at six North American sites in a $310 million transaction. Dow and Watco will enter into long-term service agreements, with the transaction expected to close in the fourth quarter of this year. Oaktree has been an investor in Watco since 2018.
The multi-office Steptoe team was led by partners Peter Denton and Scott Fisher along with Danielle Fern.
About Steptoe
In more than 100 years of practice, Steptoe has earned an international reputation for vigorous representation of clients before governmental agencies, successful advocacy in litigation and arbitration, and creative and practical advice in structuring business transactions. Steptoe has more than 500 lawyers and other professional staff across offices in Beijing, Brussels, Chicago, Hong Kong, London, Los Angeles, New York, San Francisco, and Washington. For more information, visit www.steptoe.com.
