Sullivan & Cromwell and Chadbourne & Parke lead $1.3 energy deal
Sullivan & Cromwell and Chadbourne & Parke have scored leading roles on the $1.3 billion acquisition by UIL Holdings Corporation of three natural gas utilities in New England from spain’s largest power utility, Iberdrola SA.
UIL provides gas and electricity services to more than 300,000 customers in southern Connecticut, and the new will allow the company to double its customer base.
Sullivan & Cromwell represented UIL on the purchase with a team led by partners George Sampas and Joseph Frumkin. Terrence Jones, a partner at Wiggin and Dana, also advised on the deal.
Iberdrola called on Chadbourne & Parke partner Kevin Smith for legal advice on the deal.
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