Bracewell Represents Great Plains Energy in $12.2 Billion Acquisition of Westar Energy
NEW YORK – Bracewell LLP is representing Great Plains Energy Incorporated (Great Plains) in its acquisition of Westar Energy (Westar) in a combined cash and stock transaction valued at approximately $12.2 billion. The transaction includes an $8 billion committed debt financing from Goldman Sachs Bank USA and Goldman Sachs Lending Partners LLC for the full cash portion of the transaction. Additionally, Great Plains secured a $750 million mandatorily preferred convertible equity commitment from the Ontario Municipal Employees Retirement System to be funded at the closing of the transaction.
Westar will become a wholly owned subsidiary of Great Plains. Following the merger, Great Plains will have more than 1.5 million customers in the Midwest with 13,000 MW of power generation capacity and 10,000 miles of grid lines.
The transaction is expected to close in the spring of 2017.
Bracewell attorneys involved in this transaction include:
Partners: Robin J. Miles, Catherine P. McCarthy, Elizabeth L. McGinley, Daniel E. Hemli and William S. Anderson
Counsel: Jacqueline R. Java
Associates: Blake R. Urban and David R. Kolker