Kirkland Advises Consortium Led by Global Infrastructure Partners (GIP) and EQT on Agreement to Acquire AES for $33.4 Billion and GIP on its Consortium Arrangement to Acquire AES
Kirkland & Ellis advised the acquiring consortium of Global Infrastructure Partners (“GIP”), a part of BlackRock, and the EQT Infrastructure VI fund, along with co-underwriters California Public Employees’ Retirement System and Qatar Investment Authority (collectively “the Consortium”) on a definitive agreement under which the Consortium will acquire AES for $15.00 per share in cash, representing a total equity value of $10.7 billion and an enterprise value of approximately $33.4 billion, including the assumption of existing debt. Kirkland also advised GIP on its consortium arrangement.
Through this acquisition, AES is expected to expand its leadership as a premier clean energy platform across the Americas. Underpinned by proven capabilities and one of the largest development pipelines in the industry, AES is the largest supplier of clean energy to corporations globally, including 11.8 GW of signed agreements to date to supply power to major technology firms.
Read the transaction press release
The Kirkland team included corporate lawyers Melissa Kalka, Zach Savrick, Andy Calder, Nick Lewis, Jimmy Chalk, Adam Larson, Alex Robertson, Andrew Watson, Alexa Grealis, Samantha Siegler and Kersten Kober; debt finance lawyers Mary Kogut, Chad Davis and Tatiana Monastyrskaya; capital markets lawyers Julian Seiguer and Ieuan List; executive compensation lawyers Rob Fowler and Alisa Tschorke; and tax lawyers David Wheat, Steve Butler and Joseph Tootle.
