Pankaj K. Sinha is the practice leader of the firm’s Mergers and Acquisitions Group in the Washington, D.C. office. He concentrates in the areas of mergers and acquisitions, corporate finance, and general corporate and securities matters. Mr. Sinha has represented purchasers, sellers and their financial advisors in a wide variety of transactions, including public and private acquisitions and divestitures, negotiated and contested public acquisitions, auctions, going-private transactions, proxy fights, initial public offerings and other financings, and joint ventures and other strategic alliances.
He has advised clients in numerous mergers, acquisitions, financings and other corporate transactions, including several cross-border transactions. Furthermore, he has extensive experience in M&A transactions involving energy, infrastructure and water assets.
Mr. Sinha’s recent representations include:
- Duke Energy on two transactions totaling $2.4 billion: the $1.2 billion sale of its power holdings in Brazil to China Three Gorges Corporation and the $1.2 billion sale of its power holdings in Peru, Chile, Ecuador, Guatemala, El Salvador and Argentina to I Squared Capital Advisors;
- The AES Corporation and Alberta Investment Management Corporation (AIMCo) in their acquisition of sPower (1,200 MW of utility scale solar) from Fir Tree Partners and its minority owners, for approximately $1.6 billion (enterprise value);
- Dentsply International Inc. in its $13 billion merger of equals with Sirona Dental Systems;
- SJW Group, a California-based water utility company, in its combination with Connecticut Water Service, Inc. in an all-stock transaction ($1.9 billion combined company enterprise value) to create the third-largest investor-owned water and wastewater utility in the United States;
- Kenon Holdings Ltd. in its $1.2 billion sale of IC Power Ltd.’s Latin American and Caribbean businesses to I Squared Capital Advisors, LLC;
- Enel Green Power S.p.A. in its $250 million acquisition via a tender offer of EnerNOC, Inc.;
- an investor in the $5 billion (enterprise value) acquisition of a U.S.-based, NYSE-listed utility company;
- Entergy Corporation in connection with its sale of the James A. FitzPatrick Nuclear Power Plant in upstate New York to Exelon Generation, a subsidiary of Exelon Corporation;
- Helmerich & Payne, Inc. in its acquisition of MOTIVE Drilling Technologies, Inc.; and acquisition of Magnetic Variation Services, LLC;
- Defense Group, Inc. in its acquisition by SOS International LLC;
- the private equity arm of a pension fund in various transactions;
- Argo Infrastructure in its purchase of Cross Sound Cable from Brookfield Infrastructure; and
- The AES Corporation in its $244 million sale of a 15 percent stake in AES US Investments, Inc. to La Caisse de dépôt et placement du Québec (CDPQ); and sale of AES Armenia Mountain Wind, LLC and three wind farms to ALLETE Clean Energy, Inc. in two separate transactions.
Mr. Sinha’s additional notable representations include:
- The AES Corporation in its $3.5 billion agreement to acquire DPL Inc., a regional electric and utility company; $3 billion acquisition of IPALCO Enterprises, Inc.; $1.4 billion sale of CILCORP Inc. to Ameren Corporation; and agreement with the China Investment Corporation (a sovereign wealth fund) pursuant to which CIC acquired a 15 percent equity interest in AES for $1.6 billion;
- Allegheny Energy, Inc. in its $4.7 billion acquisition by FirstEnergy Corp. in a stock-for-stock merger;
- Blockbuster Entertainment Corporation in its merger with Viacom Inc.;
- Corix Group in its acquisition of a large portfolio of a U.S.-based water utility under a holding company called Utilities Inc.;
- DUET Group in its $360 million sale of a 29 percent stake in Duquesne Light Holdings, Inc. to a Singapore sovereign wealth fund;
- Duke Energy Corporation in its joint venture to develop solar energy projects with ENN Solar, a Chinese company; and sale of a 49 percent interest in Crescent Resources to Morgan Stanley Real Estate Fund V and affiliated entities, as well as in the creation of a joint venture (the enterprise value of Crescent was $2.1 billion);
- Entergy Corporation in the proposed, but terminated, $6 billion divestiture via a tax-free spin-off and merger of its electric transmission business into ITC Holdings Corp.; and the proposed, but terminated, spin-off of its non-utility nuclear business and the formation of a joint venture with the spun-off business that will own approximately 5,000 MW of nuclear power generation in the U.S.;
- Hoechst AG in its $7 billion cash acquisition of Marion Merrell Dow;
- Macquarie Securities and affiliated entities in their purchase of U.S.-based water utility Aquarion Company from Kelda plc for an enterprise value of $860 million;
- Mars, Incorporated in connection with various corporate matters;
- the majority shareholders of MOVA Pharmaceutical Corporation in their $400 million sale to Patheon Inc., a Canadian company;
- Mylan Laboratories Inc. in its acquisition of a majority interest in Matrix Laboratories Limited, a publicly traded Indian company;
- National Grid USA in its $2.9 billion divesture of Ravenswood Generating Station to TransCanada Corporation;
- Norfolk Southern Corporation in its consent solicitation in its unsolicited offer to acquire Consolidated Rail Corporation (Conrail);
- PPL Corporation in its acquisition of Penn Fuel Gas, Inc., numerous acquisitions of energy services companies and its successful defense against an unsolicited takeover attempt by PECO Energy Company;
- PPL Global in its joint ventures with Mirant Corporation to acquire two multibillion-dollar U.K. companies: Hyder plc and Western Power Distribution Limited; and in its divestiture of Companhia Energetica do Maranhao S.A., a Brazilian utility company;
- Refco Inc. in the sale of various assets in bankruptcy;
- Société Générale in its acquisition of certain North American power and natural gas trading assets of Sempra Energy Trading, LLC;
- TechSpan Inc. in a stock-for-stock merger with Headstrong Corporation;
- the independent committee of the board of directors of Crown Central Petroleum Corporation in a merger with Rosemore Inc. and a related proxy fight; and
- USEC Inc. in a $2 billion initial public offering, the largest privatization in the United States since the 1980s, a $500 million bond offering and its acquisition of NAC International, Inc.
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Mr. Sinha’s pro bono representations include a group of teachers establishing a Washington, D.C. charter school, and The Wellness Community (TWC), a nonprofit organization dedicated to providing support and education to those affected by cancer. In 2009, Mr. Sinha advised TWC in its unique combination with Gilda’s Club, which was founded by Gilda Radner.
Mr. Sinha repeatedly has been selected for inclusion in Chambers Global, Chambers USA, Lawdragon 500 Leading Lawyers in America and The Legal 500 U.S. Mr. Sinha also was named among the 2013 D.C. Dealmakers of the Year by The National Law Journal and has been named a Client Service All-Star MVP by The BTI Consulting Group.