Latham & Watkins Advises Coatue Management, L.L.C. in its Acquisition of Shares of Vivint Solar Inc. from Blackstone Affiliate

Multidisciplinary team advised on the transaction.

August 20, 2020

Sunrun and Vivint Solar have announced that Coatue US 24 LLC (Coatue), a vehicle affiliated with Coatue Management, L.L.C., has entered into a Stock Purchase Agreement with 313 Acquisition LLC (313 Acquisition), an affiliate of The Blackstone Group Inc., for the purchase of 11,627,907 shares of Vivint Solar common stock in a private transaction. 313 Acquisition sold the shares to Coatue for US$21.50 per Vivint Solar share, which was based on the trailing 10-day volume weighted average price of Vivint Solar common stock with a reference date of August 4, 2020, representing an aggregate purchase of approximately US$250 million.

Latham & Watkins LLP represented Coatue Management, L.L.C. in the transaction with a corporate deal team led by New York partner Greg Rodgers and Bay Area/New York partner Josh Dubofsky, with associates Thomas Gabay and Matt DeSilva. Advice was also provided on antitrust matters by Washington, D.C. partner Mandy Reeves, with counsel Patrick English; on public company matters by Washington, D.C. associate William Hackett; and on CFIUS matters by Washington D.C. partner Les Carnegie.

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