HOUSTON – Bracewell & Giuliani LLP is representing Alinda Capital Partners and its co-seller in a definitive agreement to sell SourceGas Holdings LLC to Black Hills Corp. for $1.89 billion.
SourceGas operates four regulated natural gas utilities serving approximately 425,000 customers in Arkansas, Colorado, Nebraska and Wyoming and a 512-mile regulated intrastate natural gas transmission pipeline in Colorado.
The agreement is for total consideration of $1.89 billion, including reimbursement of capital expenditures through closing, estimated to be $200 million, and the assumption of $720 million of debt projected at closing.
The transaction is expected to close in the first half of 2016.
Bracewell attorneys working on the transaction include:
Partners: Elizabeth L. McGinley, G. Alan Rafte and Daniel E. Hemli
Senior Counsel: Vivian Y. Ouyang
Counsel: Jacqueline R. Java
Associates: Aaron N. Carpenter, Kate Champion, Christopher J. Miller and Rebekah T. Scherr