White & Case Advises on The Deal's "M&A Deal of the Year"
White & Case represented Sempra Energy (NYSE: SRE), a Fortune 500 energy services holding company, in an acquisition named "M&A Deal of the Year" at The Deal's inaugural deal award ceremony in New York on June 21, 2018.
Sempra Energy's US$9.45 billion all-cash acquisition of Energy Future Holdings Corp. and its subsidiary Energy Future Intermediate Holding Company (together the EFH Debtors), the indirect owners of 80 percent of Oncor Electric Delivery Company, LLC, the largest utility in Texas, created the largest utility holding company in the US by customer base.
The deal, which valued Oncor at approximately US$18.8 billion at signing, ended the EFH Debtors’ long-running chapter 11 case, which had been pending for nearly four years and had seen two prior confirmed plans fail to consummate because of regulatory issues. It was the largest industrial bankruptcy in US history.
White & Case is one of the most active and experienced law firms for both energy M&A transactions and complex restructuring matters. The Firm was ranked the #1 Legal Advisor for Energy, Mining, Oil & Gas in the Americas by deal value by Mergermarket in 2017 and 2016, and it was named Restructuring Firm of the Year by both the International Financial Law Review and The M&A Advisor in 2017.
The Deal is a leading M&A publication, and The Deal Awards recognize the leading lawyers, bankers, service providers and investors shaping the deal economy.