The Firm is representing 313 Acquisition LLC, an affiliate of Blackstone and controlling stockholder of Vivint Solar, Inc. (NYSE: VSLR), in connection with the signing of a merger agreement by Vivint Solar and SunEdison Inc. (NYSE: SUNE). SunEdison will acquire Vivint Solar for approximately $2.2 billion, payable in a combination of cash, shares of SunEdison common stock and SunEdison convertible notes. The transaction is expected to close in the fourth quarter of 2015, subject to customary closing conditions.
Vivint Solar is a leading provider of distributed solar energy – electricity generated by a solar energy system installed at a customer's location – to residential, commercial and industrial customers in the United States.
The Simpson Thacher team includes Wilson Neely, Justin Yi, Rob Smith and Derek Stueben (M&A); Bill Brentani, Edgar Lewandowski, Jonathan Lindabury and Jean Park (Capital Markets and Securities); Alden Millard and Eli Isak (Credit); Gregory Grogan and Jennifer Pepin (ECEB); Lori Lesser and Genevieve Dorment (Intellectual Property); Gary Mandel, Devin Heckman and Michael Badain (Tax); Peter Guryan and Richard Jamgochian (Competition). Summer associates Brandon Barton and Brandon Cory provided invaluable assistance.