The Firm is representing First Reserve in connection with its recently announced €300 million investment in Abengoa, S.A., in which it will receive Class B shares in Abengoa as well as warrants to acquire additional Class B shares. Abengoa, headquartered in Spain, is an international company that applies innovative technology solutions for sustainable development in the energy and environmental sectors, generating electricity from the sun, producing biofuels, desalinating sea water and recycling industrial waste.
The Simpson Thacher team working on this transaction includes: Bill Curbow, Daniel Layfield, Jim Cross and Federico Fruhbeck (M&A); John Lobrano (Securities); John Creed and Seojung Park (Tax); Jeanne Annarumma and Aimee Adler (Executive Compensation and Employee Benefits); Sara Ricciardi and Sara Colon (Litigation); Michael Naughton and William Kearney (Antitrust); Brian Chisling and Amy Beller (Regulatory); and Michael Isby (Environmental).
In connection with this investment in Abengoa, S.A., the Firm is also representing First Reserve in a €300 million deal-contingent foreign currency hedging transaction. If this investment closes, the hedging transaction will provide First Reserve with protection against unfavorable foreign exchange rate fluctuations leading up to the closing. The Simpson Thacher team working on this hedging transaction includes: Joyce Xu, Alina Casner and Jordan Taylor (Derivatives) and Marcy Geller (Tax).