News & Events

Simpson Thacher is representing Energy Future Holdings Corp. (“EFH”) on the sale of an approximate 20 percent minority ownership interest in its transmission and distribution subsidiary Oncor Electric Delivery Company LLC (“Oncor”) to an investor group led by Borealis Infrastructure Management, an investment arm of the OMERS pension plan, and GIC Special Investments, for approximate consideration of $1.254 billion. The transaction fulfills certain commitments made to regulators in connection with the 2007 acquisition of EFH (formerly TXU Corp.) by a consortium led by Kohlberg Kravis Roberts & Co. LP, TPG Capital, L.P. and Goldman Sachs & Co. Immediately after announcement of the transaction, Standard & Poor's Ratings Services raised the corporate credit rating on Oncor to BBB+ from BBB-.

The Simpson Thacher team for this transaction includes Andrew Smith, Anthony McMahon and Ishan Banerjee (M&A); Steve Todrys and Nancy Mehlman (Tax); Alvin Brown, Wonda Joseph and Paula Han (Benefits), Adeeb Fadil (Environmental) and paralegal Ellen Dadanina.