Slaughter and May is advising ContourGlobal plc on its proposed acquisition of contracted operating power plants in the United States and Trinidad and Tobago
Slaughter and May is advising ContourGlobal plc, an international owner and operator of contracted wholesale power generation businesses, on the acquisition of the entire issued share capital of WGP Holdings II, LLC from Western Generation Partners, LLC for US$837 million on a debt free, cash free basis. WGP Holdings II, LLC owns a portfolio of natural gas-fired and combined heat and power assets and a fuel oil plant totalling 1,502 MW located in the United States and Trinidad and Tobago.
The proposed acquisition is classified under the Listing Rules as a Class 1 transaction and therefore is conditional, amongst other things, on the approval of ContourGlobal’s shareholders. The proposed acquisition is expected to complete in the first quarter of 2021.
Slaughter and May, together with Latham & Watkins LLP, is supporting the in-house legal team at ContourGlobal, led by Amanda Schreiber (General Counsel).