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Energy, Utilities & Infrastructure

Greenhill has considerable transaction experience and a global network of corporate relationships in the Energy, Utilities & Infrastructure sector.  Our managing directors and professionals in North America, the United Kingdom and Continental Europe have executed many of the most significant and complex transactions for some of the leading companies in the industry.

Our experience in the Energy, Utilities & Infrastructure sector encompasses the following sub-sectors: regulated and independent power producers; oil and gas; pipelines, storage facilities and other midstream assets; waste recycling; and water.  Greenhill also has particular expertise in master limited partnerships holding energy assets.

Below we highlight a few of the transactions on which we have advised in this area:

DATE $   COMPANY/ASSET ACQUIRED   ACQUIROR
13-Aug-2010
Pending
$4.7 billion Dynegy, Inc.
Advising Dynegy Inc., an independent power producer, on its sale to an affiliate of The Blackstone Group in an all-cash transaction
The Blackstone Group
07-Jul-2010
Pending
$1.8 billion Viridian
Advising Viridian, one of the leading electricity companies in the all Ireland market, on the sale of NIE, its regulated electricity transmission and distribution businesses in Northern Ireland, to ESB, the state owned vertically integrated utility in Republic of Ireland
ESB
30-Jun-2010
Pending
$820 million Trident Resources Corporation
Advised Chilton Investment Company on Trident’s financial restructuring and emergence from CCAA / Chapter 11 bankruptcy protection including the negotiation of a new equity investment
 
03-Mar-2010
NA Puerta Mexico Transportation Facility
Advised Ports America, Inc., a portfolio company of Highstar Capital, on its sale of Puerta Mexico, a state-of-the-art customs-clearing intermodal transportation facility located in the Mexico City market
Kansas City Southern
18-Sep-2009
$81 million UKAEA Limited
Advised United Kingdom Atomic Energy Authority Non Departmental Public Body, arm of the UK Government, on the sale of UKAEA Limited, its commercial nuclear decommissioning services business, to Babcock International Group plc
Babcock International Group plc
31-Aug-2009
$5.5 billion BJ Services Company
Advised BJ Services Company, a leading pressure pumping company, on its proposed merger with Baker Hughes Incorporated, a global oilfield services company
Baker Hughes Incorporated
10-Aug-2009
$1.5 billion Dynegy, Inc.
Advised Dynegy, Inc., a merchant power generator, on its sale of 9 power plants to LS Power Equity Partners in exchange for cash and Dynegy shares
LS Power Equity Partners
07-Jun-2009
$1.6 billion EPCOR Power L.P.
Advised the Independent Committee of the Board of Directors of EPCOR Power L.P., an Alberta-based power trust, on approval of the transfer of its GP interest and 30.6% LP interest from EPCOR Utilities to a newly formed company, Capital Power Corporation
 
21-May-2009
$111 million Shanks Group plc
Acted as Financial Adviser and Sponsor to Shanks Group plc, a leading European waste management group, on its rights issue
 
31-Jul-2008
$10.3 billion TransAlta Corporation
Advised TransAlta Corporation, a power generation and wholesale marketing company, on an unsolicited offer from LS Power Equity Partners / Global Infrastructure Partners
LS Power Equity Partners / Global Infrastructure Partners
26-Nov-2007
$11.4 billion Kelda Group plc
Advised Kelda Group plc, a leading provider of water and waste water services in the UK, on a recommended cash offer from a consortium of international infrastructure investors
Citi Infrastructure Investors, GIC Special Investments, Infracapital Partners and HSBC Bank
25-Jun-2007
$8.1 billion Energy East Corporation
Advised Energy East Corporation, a super-regional electric and gas utility with nearly 3 million regulated customers in the northeast US, on its sale to Iberdrola SA
Iberdrola SA
18-Apr-2007
$950 million Trans Mountain Pipeline System
Advised Independent Committee of the Board of Kinder Morgan Energy Partners on the acquisition of Trans Mountain Pipeline System, an ~800 mile pipeline which transports crude oil and refined products from Alberta to British Columbia and Washington State
Kinder Morgan Energy Partners, L.P.
29-Jan-2007
$900 million Eggborough CTA Bonds
Advised an ad hoc committee of bondholders representing over 70% of the debt in Eggborough Power Limited, a UK power station, on (a) the formation of a new company for the purpose of acquiring and holding a controlling interest in the Eggborough CTA Bonds and (b) an associated US$600m financing. The Eggborough CTA Bonds include an option to purchase Eggborough power station in March 2010
Ampere plc (a newly formed company)
15-Sep-2006
$4.1 billion LS Power Group
Advised Dynegy, Inc., a merchant power generator, on its acquisition of LS Power Group's power generation portfolio
Dynegy, Inc.
30-Jun-2006
NA Topaz Power Partners (portfolio of seven power plants)
Advised Topaz Power Partners (a joint venture of Sempra Energy and Carlyle / Riverstone) on the sale of a portfolio of seven power plants to an affiliate of Carlyle / Riverstone
Carlyle / Riverstone
24-Feb-2006
$860 million Aquarion Company (a wholly-owned subsidiary of Kelda Group plc)
Advised Kelda Group plc on the sale of Aquarion Company, one of the largest investor-owned water utilities in the US
Macquarie Bank
15-Dec-2005
$4.5 billion Drax Group Limited
Advised bondholders of Drax Group Limited on the refinancing & listing of, and possible offers for, the company. On 15-Dec-05, Drax Group plc was successfully listed on the London Stock Exchange
 
15-Jul-2005
$70 million Texas Genco LLC
Advised Texas Genco LLC on the sale of a fuel oil pipeline and associated storage assets to TEPPCO Partners LP
TEPPCO Partners LP
11-Jul-2005
NA Inergy, L.P.
Provided a fairness opinion to Inergy Holdings GP, LLC regarding the Stagecoach natural gas storage acquisition
Inergy Holdings GP, LLC
28-Jun-2005
$111 million Texas Genco LLC
Advised Texas Genco LLC on the sale of natural gas storage assets to Kinder Morgan Energy Partners LP
Kinder Morgan Energy Partners LP
28-Apr-2004
$161 million Atlantic Electric and Gas Ltd
Advised Atlantic Electric and Gas, an affiliate of Sempra Energy, on the sale of its assets to Scottish and Southern Energy.
Scottish and Southern Energy plc
09-Jun-2003
$237 million Kelda Group plc’s 46% stake in Waste Recycling Group plc
Advised Kelda Group plc on the disposal of its 46% stake in Waste Recycling Group plc.
Terra Firma Investments
04-Apr-2003
$6.1 billion Dynegy Inc.
Advised Dynegy Inc., a leading integrated energy company involved in power generation, gas marketing and processing and regulated energy delivery, on restructuring alternatives during a period of significant pending debt maturities and liquidity constraints. The assignment culminated in a successful renegotiation and extension of Dynegy’s credit facilities
 
18-Jan-2002
$520 million Thus plc
Advised THUS plc on its underwritten £275 million open offer, £90 million bank loan and demerger from its parent, ScottishPower
 
01-Jun-1999
$601 million Aquarion Company
Advised Kelda Group (formerly Yorkshire Water) on the all-cash purchase of Aquarion Company, a US water utility group.
Kelda Group plc
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Case Study
Financing Advisory & Restructuring:
Chrysler LLC
Greenhill advised Chrysler in connection with its Chapter 11 proceedings to effectuate the sale of substantially all of its operating assets and certain liabilities to a newly created entity that is jointly owned by Fiat S.
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