Slaughter and May is advising ContourGlobal plc on the recommended acquisition of its entire issued and to be issued share capital by Cretaceous Bidco Limited, a newly formed company owned by funds advised by Kohlberg Kravis Roberts & Co. L.P. and its affiliates.
Under the terms of the acquisition, each ContourGlobal shareholder will be entitled to receive 263.6 pence in cash for each ContourGlobal share. The acquisition values the entire issued and to be issued share capital of ContourGlobal at approximately £1.75 billion on a fully diluted basis. The transaction will be effected by means of a scheme of arrangement and is expected to complete in the fourth quarter of 2022, subject to receipt of shareholder, antitrust and regulatory approvals.
ContourGlobal is an international owner and operator of contracted wholesale power generation businesses with approximately 6.3 GW in operation in 20 countries. ContourGlobal operates a portfolio of 138 thermal and renewables power plants across Europe, North America, Latin America and Africa, utilising a wide range of fuel types, technologies and equipment.
Slaughter and May is working closely with the in-house legal team at ContourGlobal, led by Amanda Schreiber (General Counsel) and Paola Agrati (Deputy General Counsel).
Raghad Al-Lawati / Trainee, Sara Kachwalla / Trainee, Matthew Crilly / Trainee