NEW YORK, September 12, 2018: Morgan Lewis represented Star West Generation, which is owned by funds managed by Oaktree Capital Management, LP and its co-investors, in the sale of its ownership interests in Arlington Valley, LLC, which owns the 580 MW combined cycle natural gas generation Arlington Valley facility, to Capital Power Corporation.
The transaction was announced on September 6, 2018, and is expected to close in the fourth quarter of 2018, subject to regulatory approvals and other customary closing conditions. It is valued at $300 million subject to working capital and other closing adjustments.
The Morgan Lewis team advising on the deal was led by partners Andrew Milano and Jonathan Morris, as well as associates Elin Lassen and Nick Agate.