White & Case is representing Houston’s Calpine Corp. in its pending acquisition by an investor group led by Energy Capital Partners. The investor group has turned to Latham & Watkins for the $5.6 billion deal.
The Calpine representation is just the latest for White & Case. The firm represented Calpine in its $1.05 billion acquisition of Noble Americas Energy Solutions and represented the company in 2013 in a $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 $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.
The White & Case team for Calpine is co-led by New York partners Morton A. Pierce, Chang-Do Gong, Robert Chung and Michael Shenberg. Others are partners William Dantzler, James Hayden, Ian Cuillerier, Gary Kashar, Andrew Weisberg, Nandan Nelivigi, Marius Griskonis, Glenn Kurtz, Arlene Hahn, Steven Lutt, Henrik Patel and David Bilkis, all of New York; and Rebecca Farrington, Mara Topping, Farhad Jalinous, Daniel Hagan and Jane Rueger, all of Washington, D.C. The team also includes New York counsels Seth Kerschner, Victoria Rosamond, Heather Waters Borthwick, Amy Delsack and Robert Tiedemann; associates Suni Sreepada, Arian Mossanenzadeh, Caelah Nelson, Neal Van Vynckt, Vinay Mysoor, Lauren Kim, Isaac Tendler, Julianne Prisco, Laura Mulry, Jason Pham, Abigail Simon, Erin Choo, Elizabeth Martinez, Julia Bell and Ryan Covington, all of New York; Rebeca Garcia-Lopez of Mexico City; Evan Zhao and Keith Schomig, both of Washington, D.C.; and Andrzej Omietanski and Yan Ng, both of London.
A corporate M&A team from Latham’s New York office leads the deal team for Energy Capital Partners including partners David Kurzweil and Adel Aslani-Far and counsel Colin Bumby. Also, finance partners Jeffrey Greenberg in Los Angeles and New York and Veronica Relea of New York are on the team, along with investment funds associate Amy Rigdon and partner David Greene, both of Washington, D.C.; regulatory partner Natasha Ginanvecchio of Washington, D.C.; antitrust partner Jason Cruise of Washington, D.C.; and tax partner Matthew Dewitz of New York.
Energy Capital Partners has offices in Houston, San Diego, and Short Hills, New Jersey.