Austin Energy’s $460 Million Acquisition of Southern Power Nacogdoches Generating Facility

Baker Botts and Husch Blackwell advised on the deal

Southern Power, a leading U.S. wholesale energy provider and subsidiary of Southern Company, announced late Thursday that it has entered into an agreement to sell the Nacogdoches Generating Facility to Austin Energy for $460 million.

The 115-megawatt (MW) plant serves electricity needs in Austin, Texas under a long-term power purchase agreement with Austin Energy. The $460 million purchase price is subject to customary closing adjustments. The transaction is expected to close in mid-2019, subject to customary closing conditions.

Husch Blackwell represented Austin Energy with a team including Brogan Sullivan (Picture) Jessica Morgan, Ali Nelson, Brian Pullin, Pat Martin, Mary Sprouse, George Khoukaz, and Sylvia Bartell.

Baker Botts was Southern Power’s primary outside counsel in this transaction with a team including Bill Lamb, Jonathan Bobinger, Susan Toumanian, Allison Lancaster, Brian Garrott, Grace Matthews (M&A), Chris Pratt (Employee Benefits), Don Lonczak (Tax), Joel Overton (Real Estate), Aileen Hooks (Environmental), Elaine Walsh (Global Projects), Robert Wann and Martin Toulouse (Finance).

Involved fees earner: Jonathan Bobinger – Baker Botts; Brian Garrott – Baker Botts; Aileen Hooks – Baker Botts; William Lamb – Baker Botts; Allison Lancaster – Baker Botts; Don Lonczak – Baker Botts; Grace Matthews – Baker Botts; Joel Overton – Baker Botts; Chris Pratt – Baker Botts; Martin Toulouse – Baker Botts; Susan Toumanian – Baker Botts; Elaine Walsh – Baker Botts; Robert Wann Jr. – Baker Botts; Sylvia Bartell – Husch Blackwell LLP; George Khoukaz – Husch Blackwell LLP; Patricia Martin – Husch Blackwell LLP; Jessica Morgan – Husch Blackwell LLP; Alison Nelson – Husch Blackwell LLP; Brian Pullin – Husch Blackwell LLP; Brogan Sullivan – Husch Blackwell LLP;

Law Firms: Baker Botts; Husch Blackwell LLP;

Clients: Austin Energy; Southern Power Company;


Author: Ambrogio Visconti