Our client wanted to carefully consider all the strategic alternatives for its two nuclear generating units. This included options such as continuing operations with the existing operating company, switching to a new contract operator, selling all or part of the units, maintaining rights to future generation development, or combinations of these alternatives.
We were engaged to conduct this strategic analysis in collaboration with the client’s nuclear, power supply, regulatory, legal, and financial teams. After completing this review, the client decided to pursue three of these options through a market test of alternative transaction structures and retained us as its financial advisor for these activities.
We prepared an offering memorandum, managed a highly technical and intensive due diligence process, solicited and evaluated numerous bids, negotiated the final transaction terms, facilitated numerous informational sessions with interested parties, and provided testimony in support of the transaction in multiple regulatory jurisdictions. The terms achieved in this transaction set a then-industry record for the highest total transaction value for the sale of a nuclear power plant at $924,000,000.
