Skadden Advises in $3.3 Billion Electricity Deal

© 2015 The Texas Lawbook.

By Natalie Posgate

(Feb. 29) – Houston-based electric utility company Dynegy and New Jersey private equity firm Energy Capital Partners have teamed up to acquire the U.S. fossil portfolio of French utility company, ENGIE, for $3.3 billion.

Skadden, Arps, Slate, Meagher & Flom represents Dynegy and Energy Capital, which are making the purchase through a newly-formed joint venture. Dynegy will own 65 percent of the JV and will be responsible for the day-to-day management and operation, while Energy Capital will own the other 35 percent.