HOUSTON – Bracewell LLP represented Bluescape in its investment in the mandatory convertible preferred equity issued by FirstEnergy Corp. (NYSE: FE) (“FirstEnergy”). FirstEnergy today announced a $2.5 billion investment in the company that includes $1.62 billion in mandatory convertible preferred equity and $850 million of common equity. As part of this transaction, C. John Wilder, executive chairman of Bluescape, will join a restructuring working group formed by FirstEnergy to maximize value and certainty to FirstEnergy, while minimizing the timing to exit competitive generation.
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Bracewell attorneys involved in this transaction included:
Partners: Will Anderson, Stephanie Koo Song and Robin J. Miles
Senior Counsel: Tara C. Ivascu
Associate: Benjamin J. Martin