Kirkland Advises MAM and Ontario Teachers on Agreement to Acquire Stake in Puget Holdings
Kirkland & Ellis counseled Macquarie Asset Management (MAM) and Ontario Teachers’ Pension Plan Board on the signing of an agreement to jointly acquire a 31.6 per cent stake in Puget Holdings from Canada Pension Plan Investment Board (CPP Investments). Puget’s primary operating subsidiary, Puget Sound Energy (PSE), is the oldest and largest electric and natural gas utility in the state of Washington, serving approximately 1.2 million electric customers and 900,000 natural gas customers in the Puget Sound region. MAM and Ontario Teachers' will each hold a 15.8 per cent stake in Puget after the close of the acquisition.
The Kirkland team was led by corporate partners Kristin Mendoza and Allan Kirk and associates Brandon Gershowitz and Marie-Joe Abi-Nassif; and energy regulatory partners Brooksany Barrowes and Drew Stuyvenberg.