Simpson Thacher Represents PPL Corp. in Sale of Its Natural Gas Distribution and Propane Businesses
03.07.08
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Simpson Thacher is representing PPL Corporation in connection with the announced divestiture of its natural gas distribution and propane businesses. Through a stock purchase agreement, UGI Utilities, Inc. has agreed to acquire these businesses for approximately $268 million in cash plus working capital, subject to the receipt of regulatory approval. PPL expects the sale to close before the end of 2008.
The Simpson Thacher team working on this transaction includes Mario Ponce, Brian Chisling and Pierre-Luc Arsenault (Corporate); Rachel Berry and Joseph Lael Tobin (Employee Benefits); Peter Rosen (Tax); and Michael Isby (Environmental).