© 2016 The Texas Lawbook.
By Natalie Posgate
(Sept. 14) – Ohio-based American Electric Power said Wednesday that it is selling four of its power plants to Blackstone and ArcLight Capital Partners for $2.17 billion.
An army of lawyers from Kirkland & Ellis advised Blackstone and ArcLight on the transaction. The primarily Houston-based corporate deal team included partners Andy Calder, Rhett Van Syoc and Andy Veit and associates Allan Kirk, Raj Krishnan, Lauren Swadley and Chad Nichols.
The Kirkland deal team also included Houston and San Francisco environmental transactions partner Paul Tanaka, as well as attorneys from the firm’s New York, San Francisco, Chicago and Washington D.C. offices who advised on employee benefits, real estate, antitrust, labor and employment, tax and intellectual property matters.
A couple weeks ago, Calder and Van Syoc led Blackstone’s involvement in the formation of Dallas-based Guidon Energy, a new oil and gas partnership focused on the Midland Basin. Calder also led Blackstone’s involvement in the formation of Fort Worth-based Jetta Permian, which will target assets and leaseholds in West Texas and southern New Mexico.
Non-Texas lawyers from Simpson Thacher & Bartlett advised AEP. The four power plants are located in Ohio and Indiana and produce approximately 5,200 megawatts.
The deal is expected to close in the first quarter of 2017.
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