Latham & Watkins Advises Citizen Energy in Acquisition of Roan Resources

A Houston-based corporate team advised on the US$1 billion transaction.

October 01, 2019

Roan Resources, Inc. (NYSE: ROAN) (“Roan”) has announced that it has entered into a definitive merger agreement to be acquired by Citizen Energy Operating, LLC (“Citizen Energy”), an affiliate of Warburg Pincus LLC, in an all-cash transaction valued at approximately US$1.0 billion, including Roan’s funded net debt of approximately US$780 million as of September 30, 2019. The transaction is expected to be completed during the fourth quarter of 2019 or the first quarter of 2020, subject to Roan stockholder approval, regulatory approvals and the satisfaction of other customary closing conditions. 

Latham & Watkins LLP is representing Citizen Energy in the transaction with a Houston-based corporate team led by partner Ryan Maierson, with associates Ryan Lynch, Samantha Seley, Clayton Heery, Drew Tengler-West, Ashlyn Royall, and Hillarie James. Advice was also provided on derivatives matters by New York partner Yvette Valdez, with associate Brett Ackerman; on environmental matters by Chicago counsel Sara Orr, with associate Reed McCalib; on benefits and compensation matters by Washington, D.C. partner Adam Kestenbaum, with associate Nikhil Kumar; on tax matters by Houston partner Tim Fenn, with associates Jim Cole and Michael Rowe; on finance matters by Houston partner Catherine Ozdogan, with associates Matthew Jones, Benjamin Gelfand, Jack Traylor, and Brian Flynn; and on antitrust matters by Washington, D.C. partner Jason Cruise and Washington, D.C. counsel Peter Todaro.

 

 
 
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