March 28, 2006

MidAmerican Energy Holdings Company closes on its previously announced $9.4 billion acquisition of PacifiCorp. and on a $1.7 billion debt offering. 

On March 21, Willkie client MidAmerican Energy Holdings Company closed on its previously announced $9.4 billion acquisition of PacifiCorp.   The transaction creates a global energy holding company serving approximately 3 million electric and natural gas customers in 10 states and 6.6 million customers worldwide.   It results in a company with assets totaling more than $32 billion and revenues of more than $10 billion.  MidAmerican now owns two U.S. electric utility companies, two gas pipeline companies (constituting the second largest pipeline network in the U.S.), two electric utility companies in the U.K., a diversified portfolio of independent power generation projects located in the U.S. and various foreign countries, and the second largest residential real estate brokerage company in the U.S.  Separately, on March 24, MidAmerican closed on a $1.7 billion debt offering.  MidAmerican is a majority-owned subsidiary of Berkshire Hathaway Inc. The acquisition closing and various related matters were handled by partners Peter Hanlon, Laurence Weltman, Tariq Mundiya, Tonny Ho and Henry Cohn and associates Mark Getachew, David Rubinsky, Steven Szanzer, Joanna Rotgers and Scott Eisenberg.  The offering was handled by partners Peter Hanlon and William Dye and associates Mark Getachew, Lindsay Silber, Robert Blaustein and Yara Martinez.