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Latham & Watkins Advises Energy Capital Partners in US$2.555 Billion Acquisition of Atlantica

May 28, 2024
Cross-border team represents the investment firm in take-private of the sustainable energy infrastructure company.

Atlantica Sustainable Infrastructure plc (NASDAQ: AY) (Atlantica), announced that it has entered into a definitive agreement pursuant to which a private limited company incorporated in England and Wales (Bidco) has agreed, subject to the terms of the Transaction Agreement, to acquire 100% of the shares of Atlantica for US$22 per share in cash, representing an equity value of US$2.555 billion. Bidco is controlled by Energy Capital Partners, a leading investor across energy transition, electrification, and decarbonization infrastructure assets, and includes a large group of institutional co-investors. The transaction is expected to close in the fourth quarter of 2024 or early first quarter of 2025. Upon the completion of the transaction, Atlantica will become a privately held company and its shares will no longer be listed on any public market.

Latham & Watkins LLP represents Energy Capital Partners in the transaction with a corporate deal team led by New York partner David Kurzweil and associate Sašo Kraner. Advice was also provided on UK corporate matters by London partners Simon Tysoe and Douglas Abernethy, with associate Harry Redford, and on finance matters by Los Angeles/New York partner Jeffrey Greenberg and Washington, D.C. partner Patrick Shannon.