Kirkland Counsels Sithe Global on $1.2 Billion Sale of its Interest in Filipino Power Plants to AboitizPower

Kirkland & Ellis LLP represented Sithe Global Power, an affiliate of the Blackstone Group (NYSE: BX), in the $1.2 billion sale of its interests in GN Power Mariveles Coal Plant Ltd. Co. (GMCP) and GNPower Dinginin Ltd. Co. (GNPD) to Aboitiz Power Corp., through its subsidiary Therma Power Inc. GMCP is a 604 MW coal-fired power plant that has been operational since 2014 and GNPD is a new 2 x 668 MW facility under construction. Both facilities are in Bataan, Philippines. The sale is subject to customary regulatory approvals and is expected to close in the fourth quarter of 2016. The full release is available here.

The Kirkland team was led by corporate partners Andrew Calder, Rhett Van Syoc and Kfir Abutbul and associates David Thompson, Ahmed Sidik, Sanjay Bapat and John Montgomery; and included tax partners Thomas Evans and Polina Liberman; antitrust partners Sally Southwell and Sarah Jordan and associate James Parkinson; environmental transactions partner Paul Tanaka and associate Michael Saretsky; and debt finance partner Andres Mena and associate Duncan McKay.