NEW YORK — Dec. 21, 2004 — The international law firm of Chadbourne & Parke LLP is representing Panda Energy International, Inc. in the sale of its Panda-Rosemary plant to Dominion Virginia Power, the electric utility subsidiary of Dominion Resources.
The agreement to sell the 181-megawatt, combined-cycle electric generating facility in Roanoke Rapids, N.C., was announced December 20. Consideration for the purchase totals $101 million, which includes a payment of cash and the assumption of long-term debt and associated costs.
Working on the deal for Chadbourne is Washington, D.C., office Project Finance partner Neil Golden, who headed up the Firm’s efforts. Other Firm attorneys handling the deal include D.C. office partner Andrew Giaccia on environmental matters, D.C. office partner Keith Martin on tax matters, New York partner Cindy Wenig and associate Elyssa Stein on real estate matters, and D.C. office associate Marissa Alcala, who handled transactional documents and other related matters.
The deal is expected to close late in the first quarter of 2005.
About Chadbourne & Parke LLP
Chadbourne & Parke LLP, an international law firm headquartered in New York City, provides a full range of legal services, including mergers and acquisitions, securities, project finance, corporate finance, energy, telecommunications, commercial and products liability litigation, securities litigation and regulatory enforcement, white collar defense, intellectual property, antitrust, domestic and international tax, reinsurance and insurance, environmental, real estate, bankruptcy and financial restructuring, employment law and ERISA, trusts and estates and government contract matters. The Firm has offices in New York, Washington, D.C., Los Angeles, Houston, Moscow, Kyiv, Warsaw (through a Polish partnership), Beijing and a multinational partnership, Chadbourne & Parke, in London. For additional information, visit www.chadbourne.com.