AltaGas’s Acquisition of SEMCO Holding Corporation from Continental Energy

On February 1, 2012, AltaGas Ltd. announced that it has entered into a definitive agreement with Continental Energy Systems LLC to acquire SEMCO Holding Corporation for US$1.135 billion, including approximately US$355 million in assumed debt. Cravath represented Continental Energy and Lindsay Goldberg LLC in this transaction. Continental Energy is a portfolio company of Lindsay Goldberg. The transaction is subject to customary regulatory approvals and expected to close in the third quarter of 2012.

The Cravath team included partner Andrew R. Thompson and associates Scott A. Abramowitz, Christopher K. Couvelier and Manoj Ramachandran on corporate matters; partner Michael L. Schler and associates J. Leonard Teti II and Matthew O. Williams on tax matters; practice area attorney Michael Krasnovsky and associates Jarrett R. Hoffman and Michelle M. Garrett on executive compensation and benefits matters; and practice area attorney Annmarie M. Terraciano on environmental matters. Curtis S. Tiffany also worked on corporate matters.