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US: White & Case, Latham advise on US$5.6B sale of Calpine

By  |  August 24, 2017

White & Case is representing Houston’s Calpine in its pending acquisition by an investor group led by Energy Capital Partners. The investor group has turned to Latham & Watkins for the US$5.6 billion deal.

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    The Calpine representation is just the latest for White & Case. The firm represented Calpine in its US$1.05 billion acquisition of Noble Americas Energy Solutions and represented the company in 2013 in a US$625 million Texas power plant acquisition.

    On Aug. 18, Calpine, the nation’s largest generator of electricity from natural gas and geothermal resources, announced a definitive agreement in which venture capital firm Energy Capital Partners, along with investors including Access Industries and Canada Pension Plan Investment Board, would acquire it for US$5.6 billion in cash.

    The transaction has been approved by Calpine’s board of directors, but is subject to approval by shareholders of Calpine common stock, and federal and state regulatory approvals. The deal is expected to close during the first quarter of 2018.

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