Shearman & Sterling Advises on $7.4 Billion Acquisition of Puget Energy
11 Feb 2009
Cynthia Urda Kassis, Robert N. Freedman

Shearman & Sterling represented the lead arrangers and facility agent in the financing for the $7.4 billion acquisition of Puget Energy by Puget Holdings, a syndicate of Macquarie Infrastructure Partners, Macquarie Capital Group, CPP Investment Board, British Columbia Investment Management, Alberta Investment Management and Macquarie-FSS Infrastructure Trust. The utility subsidiary, Puget Sound Energy, serves one million electric and nearly 750,000 natural gas customers in Western Washington.

Puget Energy was named a "Top 10 Deal in the Americas" by Project Finance International, which described the deal as dominating the US project finance market throughout 2008.

The Shearman & Sterling team included partner Cynthia Urda Kassis (New York-Project Development & Finance), counsel Robert N. Freedman (New York-Project Development & Finance) and associates Barbara Edwards (New York-Project Development & Finance) and Emily Atkinson (Toronto-Finance).