Sidley is representing GIC in connection with its agreement to acquire an indirect 19.9% equity interest in Duke Energy Indiana, a subsidiary of Duke Energy (NYSE:DUK), for a total purchase price of US$2.05 billion. Duke Energy Indiana is a regulated public utility engaged in the generation, transmission, distribution, and sale of electricity in portions of Indiana. Proceeds of the transaction will help fund Duke Energy’s US$58 billion capital plan — a five-year plan that will accelerate its clean energy transition. GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. Duke Energy is a Fortune 150 company headquartered in Charlotte, N.C. and is one of the largest holding companies in the U.S.
The deal was led by M&A partners Asi Kirmayer and Christopher Barbuto and included: M&A partner Ayo Badejo; M&A associates Emily Hunter, Parker Kolodka, Alyssa Reid, Daniel Schwartz, Isaac Wall, and David Zhao; Energy partners Terence Healey and Christopher Polito; Energy associates Jeffrey Kinney and Daniel Siso; Global Finance partner Ram Burshtine and associate Lucy Liu; Employee Benefits partner Benjamin Rosemergy and associate Marian Fielding; Environmental counsel Maureen Crough; Global Arbitration, Trade and Advocacy partner James Mendenhall; Labor, Employment and Immigration counsel James Weiss; Privacy and Cybersecurity partner Colleen Brown and counsel Ash Nagdev; and Tax partner Laura Barzilai and associate Charles Collier.
