Irving-based Vistra Energy General Counsel Stephanie Zapata Moore is overseeing her first mega-transaction since the new power company was formed a year ago from the remains of bankrupt Energy Future Holdings.
Vistra announced Monday that it is acquiring Houston-based Dynegy for $1.7 billion in a deal in which the two energy companies combined would have an enterprise value of $20 billion and a market cap of $10 billion. It is an all-stock deal in which Vistra shareholders will own 79 percent of the combined company and Dynegy shareholders will own 21 percent of Vistra.
The GCs for the two companies turned to New York and Washington, D.C. lawyers as legal advisers on the transaction. Moore hired Simpson Thacher & Bartlett, while Dynegy General Counsel Catherine Callaway James turned to Skadden, Arps, Slate, Meagher & Flom for its outside legal work. Simpson M&A partner Breen Haire did pitch in for Vistra out of Houston.
The transaction is being led by Moore, a former lawyer at Gardere and former GC at power generating giant Luminant. Moore took over the corporate legal department’s reins of Vistra, which is the parent holding company of TXU Energy and Luminant, last fall when the two power companies were spun-off from EFH as part of EFH’s restructuring.
Several other members of the Vistra legal department are playing key roles, including associate general counsel Dan Kelly, associate general counsel Cecily Gooch, managing counsel Greg Santos, managing counsel Sam Siegel, managing counsel Amanda Doncarlos and counsel Seth Rasmussen.