Latham & Watkins Advises Vistra in Acquisition of Energy Harbor

Vistra Corp. (NYSE: VST) has announced that it has executed a definitive agreement with Energy Harbor Corp., pursuant to which Energy Harbor will merge with and into a newly-formed subsidiary of Vistra. The transaction will combine Energy Harbor’s nuclear and retail businesses with Vistra’s nuclear and retail businesses and Vistra Zero renewables and storage projects under a newly-formed subsidiary holding company, referred to generally as “Vistra Vision.” This combination creates a leading integrated retail electricity and zero-carbon generation company with the second-largest competitive nuclear fleet in the country, along with a growing renewables and energy storage portfolio. The agreement has been approved by both companies’ boards of directors. Sufficient stockholder approval for the transaction has been committed through support agreements signed by a majority of the Energy Harbor stockholders.

Latham & Watkins LLP represents Vistra in the transaction with a corporate deal team led by Houston partner Trina Chandler and New York partners Caroline Blitzer Phillips and David Kurzweil, with associates Julian Azran, Kyle Adams, Kara Chung, and Rebekah Bingham. Advice was also provided on finance matters by Los Angeles partner Jeffrey Greenberg and San Diego partner Steven Levine, with associates Joanna Gorska, and Isabelle Foley; on energy regulatory matters by Washington, D.C. partner Natasha Gianvecchio, with associate James Blackburn; on tax matters by New York partner Jocelyn Noll, with associate Sam Yang; on antitrust matters by Washington, D.C. partner Jason Cruise, with associate Alexandra Kandalaft; on environmental matters by Houston partner Joel Mack and Washington, D.C. partner Stacey VanBelleghem, with associates Jacqueline Zhang and Andy Landolfi; on real estate matters by San Diego partner Robert Frances and San Diego counsel Aaron Friberg, with associate David Rao; on benefits, compensation, and employment matters by Boston partner Josh Friedman, Chicago partner Nineveh Alkhas, and New York partner Max Raskin, with associate Sophie Duffy; on investment funds matters by Chicago partner Laura Ferrell; and on insurance matters by Los Angeles partner Drew Levin.