May 4, 2004
Duke Energy Corp. announces agreement with KGen Partners LLC to purchase all of Duke Energy’s merchant generation assets (eight power plants) in the southeast United States for $475 million.
On May 4, Duke Energy Corp. announced an agreement with KGen Partners LLC, owned by MatlinPatterson Global Opportunities Partners II (a private-equity fund), to purchase all of Duke Energy’s merchant generation assets (eight power plants) in the southeast United States for $475 million. The proceeds will be used to reduce debt. The May 5 Daily Deal reports that Willkie attorneys representing the acquirors with regard to regulatory/energy issues include partners Steven Seidman and Rosalind Fahey Kruse, and associates Debra Cotter, John Thomas Duane, Natasha Friedrichs and Andrea Williams.