Banking Recap

M&A Transaction Announced for $1.10B

This record covers the sale of offshore wind joint venture interests, specifically 50% interests in the South Fork Wind and Revolution Wind projects, to Global Infrastructure Partners. The product group is M&A, and the disclosed transaction value is $1,100,000,000. The facts block does not specify a sector classification for this record, and the seller is identified in context as Eversource, based on the source language.

Feb 14, 2024·SEC EDGAR (8-K)·pending regulatory·sale of offshore wind joint venture interests

Deal value

The facts are sourced from an 8-K filed with the SEC via EDGAR, published on February 14, 2024. The deal's current status is pending regulatory review.

Only one financial advisor is identified in the facts block: Goldman Sachs, engaged by Eversource (the target/seller side) as its financial advisor. The source sentence states: "Eversource has engaged Goldman Sachs as its financial advisor to assist with the transactions and Ropes & Gray LLP serves as its legal counsel." No lead designation is specified, and no financial advisor to Global Infrastructure Partners, the acquirer, is identified in the facts provided.

Legal counsel is disclosed for the target/seller side only: Ropes & Gray LLP serves as legal counsel to Eversource. No legal advisor to Global Infrastructure Partners is identified in the facts provided.

Beyond the classification of this transaction as a sale of 50% interests in two offshore wind joint ventures with a disclosed value of $1,100,000,000, no further detail on payment structure, timing, or other specific terms is included in the facts provided.

Several items are not disclosed in this record: no financial or legal advisor to Global Infrastructure Partners, the acquirer, is identified, the sector classification is not specified, and no expected closing date is given beyond the pending-regulatory status.