Venable represents Zachry American Infrastructure and Hastings Funds Management in agreement to sell liquefied natural gas facility

Venable clients Zachry American Infrastructure and Hastings Funds Management signed an agreement on July 11, 2014 to sell their joint interest in a liquefied natural gas facility in Freeport, Texas, to private equity firm Global Infrastructure Partners (GIP).  Total gross proceeds from the transaction are expected to exceed $1.1 billion.  Mark Vecchio handled the transaction out of New York, with tax help from Brian O’Connor.  JPMorgan acted as Zachry and Hastings’ financial advisor, and GIP was represented by Latham & Watkins.  The transaction is expected to close this fall.