Paul Hastings Advises Korea East-West Power Co. in Acquisition of U.S. Renewable Power Company
Tokyo (October 1, 2010) - Paul, Hastings, Janofsky & Walker LLP, a leading global law firm, announced today it has advised Korea East-West Power Co., Ltd. (EWP) in its acquisition of Marubeni Sustainable Energy, Inc., a leading U.S. integrated energy company focused on renewable energy production, based in San Diego, California. The current portfolio of projects includes three biomass plants in California and New Hampshire and a gas plant in New York, totaling approximately 70 megawatts.
This deal is one of the first successful ventures into the U.S. power industry by a South Korean company and we are delighted to have advised EWP on this landmark deal, said Joseph Kim, a partner in Paul Hastings Tokyo office who led the team on the transaction.
This groundbreaking deal will give EWP access to the renewable energy market in the United States and will enable further expansion of its business off the back of the acquisition.
Daniel Kim, a partner in Paul Hastings Hong Kong office, commented: This deal was particularly challenging given the complex due diligence required, the multiple plants over multiple, widespread geographic locations and the various regulatory issues involved in the deal. We are delighted to have advised EWP on its successful completion of the deal.
Joseph Kim, Daniel Kim, William DeGrandis and Michael Haun led the Paul Hastings team of lawyers from across the firms network of global offices in Tokyo, Hong Kong, Washington D.C., Atlanta, San Francisco and San Diego.
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