Press Release

Kirkland Counsels Affiliates of Blackstone and Arclight in their Acquisition of Four Power Plants for Approximately $2.17 Billion

Kirkland & Ellis LLP represented affiliates of The Blackstone Group (NYSE: BX) and ArcLight in connection with the acquisition of four Midwest power plants from subsidiaries of American Electric Power (NYSE: AEP), for $2.17 billion, subject to customary purchase price adjustments. The transaction will be funded by a combination of equity from each sponsor and fully committed debt financing. Kirkland also represented the consortium with respect to the debt financing for the transaction. The full release is available here.

The Kirkland team was led by corporate partners Andrew Calder, Rhett Van Syoc, Melissa Hutson and Andy Veit and associates Allan Kirk, Raj Krishnan, Lauren Swadley and Chad Nichols; environmental transactions partners Paul Tanaka and Alexandra Farmer and associates Michael Saretsky and Michael Mahoney; employee benefits partners Alexandra Mihalas and Melissa Grim; real estate partner Roberto Miceli and associate Kristin Czubkowski; antitrust partners Michael Thorpe, Ellen Jakovic and Marin Boney; labor and employment partner Edward Holzwanger and associate Michael Schulman; tax partners Dean Shulman and Russell Light and associate David Mannion; and technology and intellectual property transactions partner Matthew Lovell.