Energy & Natural Resources

Experience

  • Power

    • PowerTeam Services, a Clayton, Dubilier & Rice portfolio company, in its purchase of Miller Pipeline and Minnesota Limited for $850 million in cash.
    • Francesco Becchetti and five other Italian investors in ICSID proceedings against Albania arising out of claimants’ investments in a hydroelectric plant and a media company, winning a historic order of provisional measures suspending criminal and extradition proceedings, and resulting in a favorable award.
    • Access Industries as a lead consortium investor in the $5.6 billion acquisition of Calpine.
    • Footprint Power in the sale of Salem Harbor Energy Station Project to Highstar Fund IV and Toyota Tsusho, an EPC Contract with Iberdrola Energy Projects, to build a 700MW state-of-the-art combined-cycle gas electric generating facility and a $730 million construction financing, a transaction awarded the Project Finance International “2015 Power Deal of the Year of the Americas” award.
    • Hanwha SolarOne in its $2 billion acquisition of Hanwha Q CELLS.
    • Toyota in its collaboration with Air Liquide to develop and supply 12 state-of-the-art hydrogen stations in five states in the northeast in connection with Toyota's rollout of new hydrogen fuel cell vehicle, Mirai.
    • Tenaska Power Fund II in its $1.6 billion term loan to repay acquisition and project-level debt at seven electric generating facilities in the U.S. plus additional construction and term loan facilities, a transaction awarded the IJGlobal “2014 North American Portfolio Deal of the Year” award.
    • EIG Global Energy Partners in the formation of various funds and accounts in the energy and energy-related infrastructure sector, including EIG Energy Fund XVI, a $6 billion global fund.
    • Hudson Clean Energy Partners in the out-of-court restructuring of portfolio company Solopower.
    • The purchase by a significant Japanese investor of an interest in one of Brazil’s largest hydroelectric projects.
    • Footprint Power in its acquisition of the Salem Harbor Power Station, a coal- and oil-fired power station, from Dominion Energy Inc. and subsequent development loan from Macquarie.
    • Poweo in the sale of Verbund’s stake to Direct Energie and subsequent merger.
    • U.S. Department of Energy in the $1.45 billion DOE guaranteed project finance loan for the $1.9 billion project financing of the Solana Solar Power Project, the largest parabolic trough solar power project under development in the U.S.
    • Sithe Global Power in a strategic partnership with subsidiaries of Chubu Electric Power and Toyota Tsusho including the sale of an aggregate 50% interest in Goreway station, an 875MW combined cycle power generating facility in 2009, followed by the sale of its remaining interest in the plant to its strategic partners.
    • Oaktree Power Opportunities Fund III, a $1.1 billion U.S. energy and infrastructure fund.
    • RAO UES in the $49 billion spin-off of its power-generating assets to its shareholders.
    • Sithe Energies in a variety of assignments, including the insolvency of Washington Group International, Inc., contractor on several major electric generation facilities being built for Sithe; the $1.7 billion sale to Exelon Corporation of Sithe New England Holdings, owner of power projects in New England with a total capacity of over 4,000 MW; the sale of seven generation facilities in the U.S. and Canada to Reservoir Capital Group; the sale of Sithe’s non-North American assets to Marubeni Corporation; and the sale to Dynegy for $135 million in cash and $919 million in project debt.
    • Groups of institutional investors holding project notes secured by the Bethpage Energy Center 3 power project in New York developed by project sponsor Calpine Corporation in the bankruptcy of Calpine Corporation.
    • EBG Holdings in its $5 billion merger with Astoria Generating Company Holdings.
    • Norilsk Nickel in its $4.5 billion tender offer for all of the shares of OGK-3 that it did not already own.
    • Mitsui in its purchase of SunWize Technologies, a solar technology company.
    • Rio Minas Energia Participações in its $320 million acquisition of an approximately 80% interest in Light S.A., the Brazilian electric utility, from Électricité de France.
    • Noteholders in the workout of the $416 million leveraged lease project financing of the Bear Swamp Pumped Storage Hydroelectric Generating Facility in Massachusetts and the related enforcement of remedies, including arrangements for the sale of the project on behalf of the secured noteholders.
    • DC Chemical in its $160 million acquisition of a minority interest in Evergreen Solar and its related multi-year polysilicon supply agreement with Evergreen.
    • Mitsui in its purchase of a 50% interest in Brazos Wind Ventures from Padoma Resources I and joint venture with ShellWind Energy.
    • Tenaska in the formation of TPF II, a $2.4 billion energy investment fund that invests in the U.S. electric power generation sector.
    • Cogentrix Energy in its $2.4 billion sale to The Goldman Sachs Group.
    • Lenders in financing the restructuring of several independent power projects in which the underlying power purchase agreements were purchased and restructured to enable the project developer to realize current value upon the sale of the PPA, and the electric utility power purchaser to achieve lower power purchase costs.
    • Drax Power, which operates Europe’s largest coal-fired power station and supplies 8-10% of England’s electricity, in its restructuring of £1.3 billion in senior secured debt, through simultaneous schemes of arrangement in England, the Cayman Islands and Jersey and an ancillary proceeding in New York. That transaction was named “Restructuring Deal of the Year” by both Project Finance Magazine and Acquisitions Monthly.
  • Oil And Gas

    • 4Refuel and its equityholders, including Kelso & Company and Penske Truck Leasing, in the sale of 4Refuel, the leading mobile on-site refueling company in Canada, to Finning International.
    • A Japanese utility as a member of an investor group in the group’s acquisition of majority ownership interests in Kleen Energy Systems, LLC, which operates a 620-megawatt natural gas-fired power plant located in Middletown, Connecticut. As part of the transaction, an affiliate of Ares EIF will manage the Kleen Energy power plant on behalf of the investor group.
    • The Republic of Korea in ICSID arbitration filed by IPICI and Hanocal.
    • Clayton, Dubilier & Rice in its acquisition of up to a 49% stake in NYSE-listed CHC Group, the world's largest commercial helicopter operator with an enterprise value of $1.9 billion.
    • KKR in the formation of KKR Energy Income and Growth Fund I, a $2 billion energy and natural resources fund.
    • Marquis Energy in securing a $228 million loan from AgCountry Farm Credit Services, including a construction loan, term loan, revolver and refinancing of existing indebtedness.
    • Capital International and Acon Investments in their acquisition of Vetra Energia, S.L., an oil and gas exploration and development company operating primarily in Colombia.
    • Access Industries, as part of a consortium with Apollo Global Management and Riverstone Holdings, in its $7.2 billion acquisition of the oil and gas exploration and production assets of El Paso, which were sold in connection with Kinder Morgan's $38 billion acquisition of El Paso.
    • A large Japanese investor in a significant investment in the U.S. Marcellus shale gas formation.
    • Mobil Oil Corporation and Texaco Corporation in a tender bid for development of oil and gas fields in the continental shelf area of Sakhalin Island under a production sharing agreement (Sakhalin-3) and subsequent negotiations with governmental authorities and Russian oil companies on project implementation.
    • ExxonMobil in several large-scale oil and gas exploration and production projects in Russia (Sakhalin-1 and Sakhalin-3), Kazakhstan and Azerbaijan.
    • Kelso & Company in its co-investment, with Riverstone Holdings, in Shelter Bay Energy, a private Bakken light oil growth company.
    • Goldman Sachs, Deutsche Bank Securities, Credit Suisse, Citi and Simmons & Company as underwriters in the $437 million initial public offering of common stock by CVR Energy.
    • Norsk Hydro in its $10 billion negotiations with Gazprom to develop the Shtokman gas-condensate field in the Barents Sea.
    • ExxonMobil in the second phase of the Caspian Pipeline as well as the construction of a pipeline from Sakhalin Island to China.
    • Kelso & Company in its acquisition, as a member of a consortium with ArcLight Capital and Lehman Brothers, of an interest in Buckeye GP Holdings from The Carlyle Group and Riverstone Holdings.
    • Mitsui in a large-scale offshore oil and gas development project in Russia’s Far East (Sakhalin-2 Project) under a production-sharing agreement (total project cost approximately $20 billion).
    • Mitsui, with the Marubeni Corporation, in the $3.5 billion financing of a gas project, pipeline and other facilities through loans to Petróleo de Venezuela S.A.
    • Gaz de France in the sale by Saipem S.A. of its stake in Gaztransport & Technigaz SA to Hellman & Friedman LLC.
    • Mitsui and Itochu in their $900 million financing with Petrobras for the modernization of the Henrique Lage Refinery (REVAP).
    • Mitsui in its $250 million acquisition of Gas Participacoes Ltda. (Gaspart), a company that owns interests in seven local gas distribution companies in Brazil, from Global Petroleum & Gas Industry.
    • Kelso & Company in its over $700 million leveraged buyout, with Goldman Sachs Capital Partners, of a majority equity stake in Coffeyville Resources, an oil refinery in Kansas.
    • Deutsche Bank, as financial advisor to Magnum Hunter Resources, in the $2.2 billion sale of the company to Cimarex Energy (NYSE), a major gas production and transportation company.
    • Mitsui, the Sumitomo Mitsui Banking Corporation and a syndicate of international foreign lenders in the refinancing of the Tuban petrochemical complex in eastern Indonesia, which included a complex $400 million financing to a special purpose vehicle. Repayment of the financing turns on a swap of petroleum products.
    • Yukos Oil in certain U.S. securities laws matters.
  • Mining

    • Nornickel in its $1 billion Eurobond offering of 4.10% notes due 2023.
    • Mitsui in its investment in VLI, a cargo logistics company.
    • Companhia Brasileira de Metalurgia e Mineração (CBMM) in the sale of a stake in CBMM to a consortium of five Chinese companies for $1.95 billion, and on a separate sale, to a consortium of Japanese and Korean companies, for the same value.
    • Polyus Gold in the $635.5 million sale of its shares to Chengdong Investment Corporation and VTB Bank.
    • KazakhGold Group Limited in a reverse takeover of Polyus Gold valued at $10 billion.
    • NLMK in its $750 million acquisition of a controlling interest in Altai Koks and Prokopievsk Ugol.
    • Mitsui in its $240 million joint venture with EVRAZ Group to develop the Denisovskoye coal deposit.
    • Mitsui in its $900 million sale of the Brazilian mining company Caemi Mineração e Metalurgia to Vale and the related $830 million purchase by Mitsui of a significant interest in Valepar, the controlling shareholder of Vale.
    • Phelps Dodge in the debt financing facilities totaling $450 million for the $850 million expansion of Sociedad Minera Cerro Verde copper mine near Arequipa, Peru. This transaction won “Latin American Deal of 2005” by Project Finance Magazine and “Project Finance Deal of the Year 2005” by Latin Lawyer.
    • A consortium of five major Japanese trading companies and six Japanese steel manufacturers in the financing of an iron ore mine in Minas Gerais, Brazil.
  • Other

    • Schneider Electric in its joint venture with The Carlyle Group to develop energy management and automation solutions for critical infrastructure projects.
    • EIG Global Energy Partners in the formation of a joint venture with FS Investments to manage the $4 billion FS Energy and Power Fund.
    • Schneider Electric in its $900 million divestiture of Telvent DTN, a leader in providing information services, supply chain connectivity tools and decision support solutions to the agricultural, energy and environmental industries, to TBG AG, a private Swiss holding company.
    • Clayton, Dubilier & Rice in its acquisitions of Brand Energy and Harsco Infrastructure in a combined transaction valued at $2.5 billion.
    • Mitsui in establishing a significant joint venture with Celanese to manufacture methanol at Celanese’s plant in Clear Lake, Texas.
    • Mitsui in its joint venture with The Dow Chemical Company to produce biopolymers made from renewable, sugarcane-derived ethanol in Brazil.
    • Schneider Electric in its $2 billion acquisition of Telvent GIT SA, a software and solutions provider to the electricity, water, transportation and oil and gas industries.
    • Schneider Electric in its acquisition of Lee Technologies, a U.S.-based service provider specializing in large-scale data centers in the North American market.
    • Schneider Electric in its acquisition of Summit Energy Services, a leader in outsourced energy procurement and sustainability services to industrial, commercial and institutional enterprises.
    • Schlumberger in its $1.1 billion acquisition of Geoservices.
    • Noteholders in the restructuring of MXEnergy, an energy trading company. Noteholders received a combination of stock, cash and equity, and became the majority shareholders following the restructuring.
    • Mitsui in its joint venture with Dow Chemical to construct, own and operate a membrane chlor-alkali facility in Freeport, Texas.
    • United States Department of Energy in its contemplated $5.9 billion loan to Ford Motor Company under the Advanced Technology Vehicle Manufacturing program.
    • Mitsui in its back-to-back acquisition of Earth Tech Mexican Holdings, the Mexican water and wastewater services business of Tyco International, from AECOM Technology Corporation.
    • First Reserve Corporation, a private equity firm specializing in the energy sector, in its investment in Lloyd's through the creation of Syndicate 2243, and its arrangements with C.V. Starr.
    • International Paper in its $137 million sale of 275,000 acres of timberlands in New York's Adirondack Park to the Lyme Forest Fund, L.P.
    • International Paper in its sale of 69,000 acres of timberlands in Wisconsin to The Nature Conservancy.
    • A consortium that includes CAI Capital Partners, Goldman Sachs Capital Partners, Kelso & Company and Vestar Capital Partners, in its $3.3 billion going private acquisition of CCS Income Trust, a Canadian company providing waste management services to the oil industry.
    • Jefferies & Company in raising $100 million of equity for a blind pool of equity investments in Northern sponsored energy projects.
    • PCP Latin America Power Fund, a fund controlled by the former partners of Banco Pactual, in its acquisition of Equatorial Energia S.A. and Cia. Energética do Maranhão S.A.
    • American Real Estate Partners (AREP) Audit Committee in AREP’s $652 million acquisition of oil and gas and gaming and entertainment assets from Carl C. Icahn, including the $320 million purchase of NEG Holding.
    • Teachers Insurance & Annuity Association, which holds a $75 million tranche of project finance mortgage loans in excess of $300 million, in its claims against Reliant Energy's Channelview cogeneration facility, located in Texas, which provides steam and other energy to Equistar Chemicals, a subsidiary of Lyondell Chemical Company.