© 2015 The Texas Lawbook.
By Natalie Posgate
(July 20) – Pennsylvania-based Talen Energy Supply announced Monday its plans to acquire Athens, New York-based MACH Gen, which owns and operates three natural gas fired power plants in New York, Arizona and Massachusetts.
The $1.18 billion deal will increase Talen’s total generating capacity to 17,600 megawatts.
MACH Gen turned to Houston partners Andrew Calder and John Pitts of Kirkland & Ellis to lead its end of the deal. Other Houston attorneys on the deal team were capital markets partner Matthew Pacey and associates Lauren Dies and Michael Muna. Attorneys from the firm’s New York, Los Angeles, San Francisco, Chicago and Washington, D.C. offices also worked on the transaction.
Kirkland is not new to having MACH Gen as a client. The firm represented MACH Gen last year when it filed for Chapter 11 bankruptcy. The bankruptcy lasted nearly two months before MACH Gen emerged, slashing its debt by $600 million.
Power generation giant Talen hired Bracewell & Giuliani to handle its end of the acquisition. Though the deal team was primarily based outside of Texas, it included Houston environmental partner Heather Palmer, Austin real estate and energy of counsel Jeffrey Bates and Houston project development/finance associate Mona Cannon.
Talen also hired non Texas-based lawyers from Simpson Thacher as finance counsel.
Pending regulatory approvals, the deal is expected to close by the end of the year.
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