Akin Gump Advises VPI Holdings in Its Acquisition of Four UK Power Stations from Drax

(London) – Akin Gump is advising VPI Holdings Limited, an affiliate of energy and commodities trader Vitol S.A., in connection with the company’s proposed acquisition from Drax Group plc of four combined cycle gas turbine (CCGT) power plants in the U.K. for a consideration of £193 million. On completion, VPI will become one of the leading CCGT operators in the U.K., owning a combined portfolio of 3.3GW.

The transaction signed on December 15, 2020, and is expected to close in Q1, 2021.

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The Akin Gump team advising VPI Holdings is led by London private equity partner Shaun Lascelles and global project finance partner Julian Nichol, with energy counsel Nertila Qenani and corporate associates Dougall Meston, Jing Ng and Akito Watkin.

They were supported in relation to tax by London partner Stuart Sinclair, counsel Clare Smith and associate Mohammed Natha; in relation to competition by partner Davina Garrod, counsel Scott Pettifor and trainee solicitor Abigail Beardsworth; and with regard to international trade by Washington, D.C. partner Nnedinma Ifudu Nweke and counsel Alexis Guinan.

Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers and advisors in offices throughout the United States, Europe, Asia and the Middle East. Founded in 1945, the firm is proudly celebrating its 75th anniversary in 2020. #AkinGump75

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