Siwei Yang

Simpson Thacher is representing affiliates of GI Partners in connection with its definitive agreement to acquire ORBCOMM Inc. (“Orbcomm”). Under the terms of the agreement, shareholders will receive $11.50 in cash per share of Orbcomm’s common stock in an all-cash transaction that values Orbcomm at approximately $1.1 billion, including net debt. The transaction is expected to close in the second half of 2021.~~ORBCOMM (Nasdaq: ORBC) is a global leader and innovator in the industrial Internet of Things, providing solutions that connect businesses to their assets to deliver increased visibility and operational efficiency. The company offers a broad set of asset monitoring and control solutions, including seamless satellite and cellular connectivity, unique hardware and powerful applications, all backed by end-to-end customer support, from installation to deployment to customer care. ORBCOMM has a diverse customer base including premier OEMs, solutions customers and channel partners spanning transportation, supply chain, warehousing and inventory, heavy equipment, maritime, natural resources, and government.~~Founded in 2001, GI Partners is a private investment firm based in San Francisco, California. The firm has raised over $26 billion in capital from leading institutional investors around the world to invest in private equity, real estate and data infrastructure strategies. The data infrastructure team invests primarily in hard asset infrastructure businesses underpinning the digital economy.~~The Simpson Thacher team representing GI Partners includes Christopher May, Kyle Kreshover, Zain Rifat and Siwei Yang (Corporate); Catherine Burns (Credit); Jeannine McSweeney and Jake Phillips (ECEB); Sophie Staples and Abigail Hopper (Tax); Lori Lesser and Melanie Jolson (IP); Michael Isby (Environmental); and Dennis Loiacono (Real Estate).

Sep 4

1 min

Simpson Thacher represented Riverstone Credit Partners, L.P. (“Riverstone”) in connection with its $100 million credit investment in Circulus Holdings, PBLLC (“Circulus”). The $100 million credit facility (the “Green Loan”) was structured in compliance with the LSTA Green Loan Principles, which aim to facilitate and support environmentally sustainable economic activity by financing eligible projects.~~Circulus is a Houston-based public benefit limited liability company focused on the conversion of plastic waste into post-consumer resins (PCR) utilizing world-class mechanical recycling solutions. Circulus contributes to the circular economy by recycling plastics to their highest and best use while eliminating waste.~~Founded in 2000, Riverstone is an investment firm focused on executing private equity and credit investments in energy, power, decarbonization and infrastructure. To date, Riverstone has raised approximately $43 billion of capital, which it has deployed across its platform to more than 200 portfolio companies since inception.~~The Simpson Thacher team included Matthew Einbinder, Amy Beller, Sara Daniel and Siwei Yang (Credit); Sophie Staples, Jasmine Hay and Edward Grais (Tax); Lori Lesser, Kate Mirino and Corina McIntyre (IP); Dennis Loiacono and Stephanie Brenner (Real Estate); Michael Isby (Environmental); Jonathan Pall (Collateral); and Jeanne Annarumma (ERISA).

Nov 18

1 min

Simpson Thacher is representing Global Infrastructure Partners (“GIP”) in connection with the sale of its 25.7% stake in Freeport LNG Development, L.P. (“Freeport”) to JERA Americas Inc. for $2.5 billion, subject to customary purchase price adjustments. GIP’s second flagship fund, Global Infrastructure Partners II, acquired the stake in 2015. Freeport is the seventh largest LNG facility in the world, the second largest in the U.S., and the only U.S. facility to use electric motor-driven technology, emitting 90% less CO2 than a comparable gas turbine-driven facility.~~Houston-based JERA Americas is a leading integrated energy provider supporting the Americas’ energy transition in an environmentally and socially responsible manner. A subsidiary of JERA, the world’s largest buyer of LNG and supplier of 30% of the electricity in Japan, JERA Americas is supporting a “JERA Zero CO2 Emissions 2050” objective to achieve zero CO2 emissions from its businesses by 2050. JERA, which stands for Japanese Energy for a New Era, has a vision to contribute to the development of a sustainable society, and to become a global company that is worthy of the regard of the global energy market and indispensable to the people of the world.~~The Simpson Thacher team includes Eli Hunt, Amy Hutchings, Austin Uhm, Siwei Yang and Mackenzie Humble (M&A); Brian Steinhardt, Zachary Banks and Sara Daniel (Credit); Russell Light (Tax); David Rubinsky, Laura Gallo and Garrick Ehlers (ECEB); Krista McManus and Stephanie Brenner (Real Estate); Peter Guryan, Kelly Karapetyan and Jamie Logie (Antitrust); Genevieve Dorment (IP); Michael Isby (Environmental); and Steven DeLott (Insurance).

Nov 16

1 min

Simpson Thacher is advising KKR in connection with its $3.37 billion acquisition of a non-controlling, 20% interest in Sempra Energy’s (NYSE: SRE) new business platform, Sempra Infrastructure Partners. The transaction values Sempra Infrastructure Partners at approximately $25.2 billion, including expected asset-related debt at closing of $8.37 billion. The transaction is expected to be completed by mid-2021, subject to customary closing conditions, including consents from certain third parties and regulators.~~Sempra Infrastructure Partners combines the strengths of Sempra LNG, a leading developer of liquefied natural gas (LNG) export infrastructure, and IEnova (Infraestructura Energética Nova, S.A.B de C.V.), one of the largest private energy companies in Mexico and a leading developer and operator of renewables and natural gas infrastructure in that country.~~The Simpson Thacher team includes Breen Haire, Shamus Crosby, Tyler Cox, Michael Spirtos, Hunter Hampton, Grant Gannon and Siwei Yang (M&A); Nancy Mehlman and Joseph Tootle (Tax); Brian Steinhardt and Zachary Banks (Credit); Dennis Loiacono (Real Estate); Tristan Brown and Alyssa Ohanian (ECEB); Adeeb Fadil and Noreen Lavan (Environmental); Melanie Jolson (IP); and Étienne Renaudeau (Antitrust).

Jun 4

1 min

Simpson Thacher is representing Blackstone in connection with its entry into an agreement with Array Technologies, Inc. (NASDAQ: ARRY) to purchase up to $500 million of Array’s perpetual preferred stock. Under the terms of the agreement, Array will sell $350 million of perpetual preferred stock to Blackstone at the initial closing and, at Array’s option, up to an additional $150 million of perpetual preferred stock at any time prior to June 30, 2023. Subject to the receipt of certain regulatory approvals, Blackstone will receive 7.875 million shares of Array’s common stock representing approximately 5.8% of shares outstanding.~~Array is a leading global technology company providing tracker solutions and services for utility-scale solar energy projects as one of the world’s largest manufacturers of ground-mounted systems.~~The Simpson Thacher team includes Christopher May, Anthony Vernace, Izaak Lustgarten and Siwei Yang (M&A); Jonathan Ozner (Capital Markets); Jonathan Goldstein, Sophie Staples and Ed Grais (Tax); Steven Klar (Funds); Jonathan Lindabury and Caitlin Wood (Derivatives/Backleverage); Greg Grogan and Scott Schilson (Executive Compensation and Employee Benefits); Peter Guryan and Kelly Karapetyan (Antitrust); Lori Lesser and Samuel Watters (Intellectual Property); and Adeeb Fadil (Environmental).

Nov 8

1 min