-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Drfa9cw2ZaINc2GDCpCEn69QdpPZP3N6emkNzDPaoF9TZHvE1s+7CmMMhozzXQUs k5miXaJqB6aW8DAqg5aBIA== 0001358582-06-000078.txt : 20060606 0001358582-06-000078.hdr.sgml : 20060606 20060606191737 ACCESSION NUMBER: 0001358582-06-000078 CONFORMED SUBMISSION TYPE: 4/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050321 FILED AS OF DATE: 20060606 DATE AS OF CHANGE: 20060606 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: LB I GROUP INC CENTRAL INDEX KEY: 0001045004 FILING VALUES: FORM TYPE: 4/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-31345 FILM NUMBER: 06890261 BUSINESS ADDRESS: STREET 1: 3 WORLD FINANCIAL CENTER STREET 2: 200 VASEY ST CITY: NEW YORK STATE: NY ZIP: 10285 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: PACIFIC ENERGY PARTNERS LP CENTRAL INDEX KEY: 0001168397 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 680490580 MAIL ADDRESS: STREET 1: 5900 CHERRY AVE CITY: LOS ANGELES STATE: CA ZIP: 90805 4405 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Lehman Brothers Merchant Banking Associates III LP CENTRAL INDEX KEY: 0001360826 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-31345 FILM NUMBER: 06890260 BUSINESS ADDRESS: STREET 1: 745 7TH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 212-526-7000 MAIL ADDRESS: STREET 1: 745 7TH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Lehman Brothers Merchant Banking Associates III LLC CENTRAL INDEX KEY: 0001360827 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-31345 FILM NUMBER: 06890264 BUSINESS ADDRESS: STREET 1: 745 7TH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 212-526-7000 MAIL ADDRESS: STREET 1: 745 7TH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: LEHMAN BROTHERS INC// CENTRAL INDEX KEY: 0000728586 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 4/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-31345 FILM NUMBER: 06890262 BUSINESS ADDRESS: STREET 1: LEHMAN BROTHERS INC. STREET 2: 3 WORLD FINANCIAL CENTER CITY: NEW YORK STATE: NY ZIP: 10285 BUSINESS PHONE: 2125267000 MAIL ADDRESS: STREET 1: LEHMAN BROTHERS INC. STREET 2: 3 WORLD FINANCIAL CENTER CITY: NEW YORK STATE: NY ZIP: 10285 FORMER NAME: FORMER CONFORMED NAME: SHEARSON LEHMAN BROTHERS INC DATE OF NAME CHANGE: 19920703 FORMER NAME: FORMER CONFORMED NAME: SHEARSON LEHMAN HUTTON INC /DE/ DATE OF NAME CHANGE: 19900828 FORMER NAME: FORMER CONFORMED NAME: SHEARSON LEHMAN BROTHERS INC /DE/ DATE OF NAME CHANGE: 19880323 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: LEHMAN BROTHERS HOLDINGS INC CENTRAL INDEX KEY: 0000806085 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 4/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-31345 FILM NUMBER: 06890263 BUSINESS ADDRESS: STREET 1: LEHMAN BROTHERS STREET 2: 745 SEVENTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2125267000 MAIL ADDRESS: STREET 1: LEHMAN BROTHERS STREET 2: 745 SEVENTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 FORMER NAME: FORMER CONFORMED NAME: SHEARSON LEHMAN HUTTON HOLDINGS INC DATE OF NAME CHANGE: 19901017 4/A 1 edgar.xml PRIMARY DOCUMENT X0202 4/A 2005-03-21 2005-03-23 0001168397 PACIFIC ENERGY PARTNERS LP PPX 0000806085 LEHMAN BROTHERS HOLDINGS INC 745 SEVENTH AVENUE NEW YORK NY 10019 0 0 0 1 See Remark (1). 0000728586 LEHMAN BROTHERS INC// 745 SEVENTH AVENUE NEW YORK NY 10019 0 0 0 1 See Remark (1). 0001045004 LB I GROUP INC 745 SEVENTH AVENUE NEW YORK NY 10019 0 0 0 1 See Remark (1). 0001360826 Lehman Brothers Merchant Banking Associates III LP 745 SEVENTH AVENUE NEW YORK NY 10019 0 0 0 1 See Remark (1). 0001360827 Lehman Brothers Merchant Banking Associates III LLC 745 SEVENTH AVENUE NEW YORK NY 10019 0 0 0 1 See Remark (1). Subordinated Units Representing Limited Partner Interests 2005-03-21 4 S 0 786705 29.10 D Common Units Representing Limited Partner Interests 786705 1829545 I By LB Pacific, LP Subordinated Units Representing Limited Partner Interests 2005-03-21 4 S 0 786705 27.60 D Common Units Representing Limited Partner Interests 786705 1829545 I By LB Pacific, LP Subordinated Units Representing Limited Partner Interests 2005-03-21 4 S 0 1573409 26.70 D Common Units Representing Limited Partner Interests 1573409 3659090 I By LB Pacific, LP Subordinated Units Representing Limited Partner Interests 2005-03-21 4 J 0 226864 D Common Units Representing Limited Partner Interests 226864 1829545 I By LB Pacific, LP Subordinated Units Representing Limited Partner Interests 2005-03-21 4 J 0 226864 D Common Units Representing Limited Partner Interests 226864 1829545 I By LB Pacific, LP Subordinated Units Representing Limited Partner Interests 2005-03-21 4 J 0 453727 D Common Units Representing Limited Partner Interests 453727 3659090 I By LB Pacific, LP Subordinated Units Representing Limited Partner Interests 2005-03-21 4 J 0 226864 A Common Units Representing Limited Partner Interests 226864 1829545 I By LB Pacific, LP Subordinated Units Representing Limited Partner Interests 2005-03-21 4 J 0 226864 A Common Units Representing Limited Partner Interests 226864 1829545 I By LB Pacific, LP Subordinated Units Representing Limited Partner Interests 2005-03-21 4 J 0 453727 A Common Units Representing Limited Partner Interests 453727 3659090 I By LB Pacific, LP 1-for-1 On March 21, 2005, LB I Group Inc. sold approximately 30.1% of the ownership interest in each of LB Pacific GP, LLC and LB Pacific LP to a third party. The transaction reported is the indirect disposition by LB I Group Inc. of the Subordinated Units by virtue of the allocations of equity interests in LB Pacific GP, LLC and LP Pacific LP. The number of Subordinated Units shown as disposed of is based on applying the decrease in proportionate interest of LB I Group Inc. in LB Pacific LP, directly and indirectly through LB Pacific GP, LLC, to the number of Subordinated Units held by LB Pacific LP. As a result of the transaction described in footnote 2, LB I Group Inc., Lehman Brothers Holdings Inc. and Lehman Brothers Inc. each may be deemed to have disposed of, indirect beneficial ownership of 786,705 Subordinated Units that are convertible on or after June 30, 2005, 786,705 Subordinated Units that are convertible on or after June 30, 2006, and 1,573,409 Subordinated Units that are convertible on or after June 30, 2007. These Subordinated Units are convertible into Common Units of the Issuer immediately after the distribution of available cash to partners in respect of any quarter ending on or after June 30, 2005, assuming certain financial tests in the Issuer's partnership agreement have been satisfied. None. The allocation of a portion of the aggregate purchase price for the equity interests in LB Pacific LP and LB Pacific GP, LLC to the Subordinated Units was determined based on fair market values. Each of Lehman Brothers Inc., LB I Group Inc. and Lehman Brothers Holdings Inc. may be deemed to beneficially own all of these Subordinated Units, each of which is based on the indirect proportionate interest of such reporting person, following the reported transactions, in such Subordinated Units by virtue of its direct and indirect equity interest in LB Pacific LP. The Subordinated Units are held by LB Pacific, LP, which also owns all of the 2% general partner interest in the Issuer. The Subordinated Units may be deemed to be beneficially owned by LB I Group Inc., Lehman Brothers Holdings Inc. and Lehman Brothers Inc. However, LB Pacific GP LLC disclaims beneficial ownership of the Subordinated Units except to the extent of its pecuniary interest therein. See Remark (1). The numbers of Subordinated Units beneficially owned by the reporting persons, as reported herein, is based on the reporting person's indirect proportionate interest, following the transactions reported herein, in the Subordinated Units held by LB Pacific LP. These Subordinated Units are convertible into Common Units of the Issuer immediately after the distribution of available cash to partners in respect of any quarter ending on or after June 30, 2006, assuming certain financial tests in the Issuer's partnership agreement have been satisfied. These Subordinated Units are convertible into Common Units of the Issuer immediately after the distribution of available cash to partners in respect of any quarter ending on or after June 30, 2007, assuming certain financial tests in the Issuer's partnership agreement have been satisfied. The transaction date shown is the date on which the allocations to funds managed by the fund manager reporting persons as described in footnote 12 were closed. The effect of the allocations is that the investment funds acquired directly beneficial ownership of limited partnership interests in LB Pacific, LP and membership interests in LB Pacific GP, LLC, and indirectly beneficial ownership of the Subordinated Units, on a basis economically equivalent to a purchase on March 3, 2005 at the same price paid by LB I Group Inc. on March 3, 2005 for the interests in LB Pacific, LP and LB Pacific GP, LLC. Accordingly, the purchasing funds separately compensated LB I Group Inc. for the financing costs attributable to the time period between March 3, 2005 and the applicable transaction date. On March 21, 2005, LB I Group Inc. allocated approximately 8.7% of the ownership interest in each of LB Pacific GP, LLC and LB Pacific LP to a fund managed by Lehman Brothers Merchant Banking Associates III L.P. The transaction reported is the indirect disposition by LB I Group Inc. and the indirect acquisition by the fund of the Subordinated Units by virtue of the allocations of equity interests in LB Pacific GP, LLC and LP Pacific LP. The number of Subordinated Units shown as disposed of is based on applying the decrease in proportionate interest of LB I Group Inc. in LB Pacific LP, directly and indirectly through LB Pacific GP, LLC, to the number of Subordinated Units held by LB Pacific LP. As a result of the transaction described in footnote 12, Lehman Brothers Merchant Banking Associates III L.P. and Lehman Brothers Merchant Banking Associates III LLC each may be deemed to have acquired, and LB I Group Inc. and Lehman Brothers Inc. each may be deemed to have disposed of, indirect beneficial ownership of 226,864 Subordinated Units that are convertible on or after June 30, 2005, 226,864 Subordinated Units that are convertible on or after June 30, 2006, and 453,727 Subordinated Units that are convertible on or after June 30, 2007. The aggregate purchase price paid by the purchasing investment funds managed by Lehman Brothers Merchant Banking Associates III L.P. for the equity interests in LB Pacific, LP and LB Pacific GP, LLC was $15,500,000, plus $33,933 for financing costs, and an allocation of a portion of the aggregate purchase price to the Subordinated Unit based on estimates of the relative fair market values of assets results in a price of $29.10 per Subordinated Unit that is convertible on or after June 30, 2006 (or $29.13 per Unit including financing costs), $27.60 per Subordinated Unit that is convertible on or after June 30, 2006 (or $27.63 per Unit including financing costs), and $26.70 per Subordinated Unit that is convertible on or after June 30, 2007 (or $26.73 per Unit including financing costs). Each of Lehman Brothers Inc. and LB I Group Inc. may be deemed to beneficially own 1,602,682 of these Subordinated Units; Lehman Brothers Holdings Inc. may be deemed to beneficially own all of these Subordinated Units; and Lehman Brothers Merchant Banking Associates III L.P. and Lehman Brothers Merchant Banking Associates III LLC each may each be deemed to beneficially own 226,864 of these Subordinated Units, each of which is based on the indirect proportionate interest of such reporting person, following the reported transactions, in such Subordinated Units by virtue of its direct and indirect equity interest in LB Pacific LP. Each of Lehman Brothers Inc. and LB I Group Inc. may be deemed to beneficially own 3,205,364 of these Subordinated Units; Lehman Brothers Holdings Inc. may be deemed to beneficially own all of these Subordinated Units; and Lehman Brothers Merchant Banking Associates III L.P. and Lehman Brothers Merchant Banking Associates III LLC each may each be deemed to beneficially own 453,727 of these Subordinated Units, each of which is based on the indirect proportionate interest of such reporting person, following the reported transactions, in such Subordinated Units by virtue of its direct and indirect equity interest in LB Pacific LP. Remark (1) - This amendment has been filed to add the filing codes for all of the joint filers listed herein other than Lehman Brothers Holdings Inc. This report is filed jointly by Lehman Brothers Holdings Inc., Lehman Brothers Inc., LB I Group Inc., Lehman Brothers Merchant Banking Associates III, L.P. and its general patner, Lehman Brothers Merchant Banking Associates III LLC. The reporting persons may be deemed to be directors of the Issuer by virtue of their equity interest in LB Pacific LP, which owns 100% of the equity interests in the general partner of the Issuer, but such status is not acknowledged. Lehman Brothers Holdings Inc. owns (i) 100% of the equity interests in Lehman Brothers Inc., which owns 100% of the equity interests in LB I Group Inc. and (ii) 100% of the equity interests in Lehman Brothers Merchant Banking Associates III LLC, which owns 100% of Lehman Brothers Merchant Banking Associates III LP, which is the manager of a fund that owns approximately 8.7% of each of LB Pacific GP, LLC and LB Pacific, L.P. Lehman Brothers Merchant Banking Associates III L.P. is reporting in its capacity as manager of its funds. Prior to the transaction reported herein, LB I Group Inc. owned, directly or indirectly, 100% of the equity interests in each of LB Pacific GP, LLC and LB Pacific LP. Following the transaction reported herein, LB I Group Inc. owns, directly or indirectly, approximately 61.3% of the equity interests in each of LB Pacific GP, LLC and LB Pacific LP. LB Pacific GP LLC owns a 0.1% interest in LB Pacific LP. LB Pacific LP owns indirectly all of the 2% general partner interest in the Issuer and directly all of the subordinated units representing limited partner interests in the Issuer. Each reporting person disclaims benenficial ownership of the Subordinated Units except to the extent of its pecuniary interest therein. Ashvin Rao, Authorized Signatory of Lehman Brothers Holdings, Inc. 2006-06-06 Ashvin Rao, Authorized Signatory of Lehman Brothers, Inc. 2006-06-06 Ashvin Rao, Authorized Signatory of LB I Group Inc. 2006-06-06 Ashvin Rao, Authorized Signatory of Lehman Brothers Merchant Banking Associates III L.L.C. 2006-06-06 Ashvin Rao, Authorized Signatory of Lehman Brothers Merchant Banking Associates III L.L.C., general partner of Lehman Brothers Merchant Banking Associates III, L.P. 2006-06-06 -----END PRIVACY-ENHANCED MESSAGE-----