Blackstone/ArcLight $2.17 billion acquisition of American Electric Power assets

Overview:

• Private equity firms Blackstone and ArcLight have acquired $2.17 billion in assets from American Electric Power (AEP).
• The assets consist of three power plants in Ohio and one plant in Indiana.
• One of the Ohio plants is coal-fired, while the remaining two and the single plant in Indiana are all gas-fired.
• The deal is expected to close in Q1 of 2017.
• Kirkland & Ellis (Andrew Calder, Rhett Van Syoc, Melissa Hutson, Andy Veit) advised affiliates of Blackstone and ArcLight.
• Latham & Watkins (David Allinson, Warren Lilien, Veronica Relea, Michael Gergen) advised ArcLight.
• Simpson Thacher &  Bartlett (Mario Ponce, Brian Chisling) represented AEP. 

Kurt Stumpo - Journalist - North America and the Caribbean