California Resources Corp. has agreed to merge with Aera Energy in an all-stock consideration valued at approximately $2.1 billion. The transaction, announced Feb. 7, is expected to close in the second half of 2024. Long Beach, California-based California Resources was advised by a Sullivan & Cromwell team including partners Bradley S. King and Alison S. Ressler. IKAV and Canada Pension Plan Investment Board, the owners of Aera, were represented by Latham & Watkins. The Latham & Watkins corporate deal team was led by partners David Allinson and Thomas Brandt.
Energy
February 08, 2024, 11:07 AM