Akin Gump Advises CenterPoint Energy in $363 Million Investment in Enable Midstream Partners
(Houston) – Akin Gump advised CenterPoint Energy, Inc. in an agreement, announced today, that it has entered into with Enable Midstream Partners, LP regarding Enable’s early redemption of $363 million of notes payable to CenterPoint Energy Resources Corp., a CenterPoint indirect, wholly-owned subsidiary, and CenterPoint’s investment of the $363 million proceeds from such redemption in Enable’s 10% Series A Perpetual Preferred Units.
The transaction, which is subject to CenterPoint’s completion of its review of Enable’s audited financial statements for the year-ended Dec. 31, 2015, and certain customary closing conditions, is expected to close prior to the end of the first quarter of 2016 and is expected to be accretive to CenterPoint’s earnings.
The Akin Gump team representing CenterPoint included oil and gas partners David Elder, John Goodgame and Houston office partner in charge Chris LaFollette; tax partners Alison Chen and Thomas Weir; and oil and gas associates Heather Ashour and Chase Armbrust.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
# # #