Water and Waste

Selected Sullivan & Cromwell infrastructure matters dealing with water and waste include the following projects:

• Connecticut Water Service, Inc. in its merger with SJW Group, creating the third-largest investor-owned water and wastewater utility in the United States.
• Canada Pension Plan Investment Board in its approximately $750 million investment in Aqua America Inc.
• Minera Los Pelambres in $1.3 billion of unsecured commercial bank and export credit agency term loans related to the expansion of the Los Pelambres copper project, which included the construction of a desalination plant.
• U.S. Liquids of Louisiana, Calpet and Controlled Recovery’s $233 million acquisition by Tinicum Capital Partners II, as lead member of a consortium with Paine & Partners Capital Fund III, in which S&C advised Tinicum.
• American Water Works’ numerous debt and equity offerings, including the $1.434 billion IPO and NYSE listing in which S&C acted for the underwriters.
• Transpacific Industries’ Rule 144A/Reg. S placement/rights offering of ordinary shares, in which S&C acted as counsel to the underwriters.
• Casella Waste Systems’ $130 million sale of select nonintegrated recycling assets to CE Holdings, in which S&C acted for the financial adviser to Casella.
• SouthWest Water’s $427 million acquisition by certain institutional investors advised by J.P. Morgan Asset Management and Water Asset Management, in which S&C advised the financial adviser.
• CPPIB’s debt financing for the acquisition of AWG, parent of Anglian Water (U.K.) by its subsidiary company Osprey Acquisitions.
• Suez (France) and its affiliates’ numerous transactions.
• Lyonnaise Asia Water’s formation for the purpose of investing in start-up and existing potable water production, distribution and treatment facilities and wastewater facilities, in which S&C represented Lyonnaise des Eaux.
• Kuwait City Shuaiba North Power and Water Desalination Facility, in which S&C acted for the financial adviser to the project company in its rebuilding.
• Washington Water Power’s registered debt and equity offerings, in which S&C acted as counsel to the underwriters.
• Elizabethtown Water, San Diego Water Authority and Pittsburgh Water & Sewer, in which S&C advised The Bank of New York in a series of revenue bonds and credit facilities for utilities.