White & Case LLP, Willkie, Farr & Gallagher LLP, Kirkland & Ellis LLP advised on LS Power’s USD 5 Billion acquisition of power generation assets in the PJM region from Constellation Energy.
LS Power, through its affiliates, agreed to acquire approximately 4.4 gigawatts of predominantly natural gas-fired generation capacity from Constellation Energy Corporation, including the Bethlehem, York 1, York 2, Hay Road, and Edge Moor facilities in Delaware and Pennsylvania, in a transaction valued at USD 5 billion before closing adjustments.
The proposed sale represents the largest portion of the divestitures required by the US Department of Justice as part of its antitrust review of Constellation’s acquisition of Calpine.
White & Case advised LS Power on the acquisition, including regulatory, debt finance, tax, M&A, employment, real estate, and capital markets matters.
The team was led by Partners Joshua Teahen (Houston), Andrew Weisberg (New York), and Jane Kim (New York), with Associates M.K. Kang (New York) and Zachary Smith (Chicago).
Willkie, Farr & Gallagher LLP also advised LS Power Equity Advisors, LLC on the acquisition.
The team was led by Partner Robert Lepore.
Kirkland & Ellis advised Constellation Energy Corporation on the sale.
The team included Corporate lawyers David Feirstein, Kim Hicks, Mike Bassi, Claire Wolf, and Olga Cosme Toledo; Debt finance lawyers Rachael Lichman, Charlie Martin, and Will Zakhary; Tax lawyers Mark Dundon and Rachel Malhiet; Antitrust & Competition lawyers Ian John and Todd Garcia; and energy regulatory lawyers Brooksany Barrowes, Andrew DeVore, and Cassidy Hall.
The deal reporting on this platform is based on the information received from law firms, and therefore, some details may be missing/incomplete. If your firm has not been credited for this deal, write to us at chanchal.makhija@thegreymatter.co.in mentioning your firm’s name, lawyers involved (including designation) and client represented.
