Skadden is advising FTAI Infrastructure Inc. on its sale of Long Ridge Energy & Power LLC and certain related assets to MARA Holdings, Inc. The transaction is valued at approximately $1.52 billion.
Headquartered in Pittsburgh, Pennsylvania, Long Ridge is a vertically integrated power and gas company comprised of a 485-megawatt combined cycle gas power plant, working interests in natural gas production wells, and approximately 1,600 acres of land along the Ohio River in Southeastern Ohio.
The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the third quarter of 2026.
The Skadden team includes Faiz Ahmad, David Niemeyer, Michael Schwartz, David Passes and Nickolas Gianou.