December 17, 2009 – LawFuel.com – Continental Energy Systems LLC today announced it has agreed to sell Cap Rock Energy Corporation (“Cap Rock Energy”) and its subsidiary, NewCorp Resources Electric Cooperative, Inc. to Hunt Transmission Services (“HTS”). Cravath, Swaine & Moore LLP is representing Continental Energy Systems and Goldberg Lindsay & Co., LLC in this transaction.
Under the terms of the agreement, HTS will acquire Cap Rock Energy, including all of its electric transmission and distribution assets located in West Texas, Central Texas, and an area northeast of Dallas. Regulatory filings are expected to be completed in early 2010, with all approvals expected to be received by the summer of 2010.
The Cravath team includes partners Richard Hall and Andrew R. Thompson, senior attorney Kimberly A. Grousset and associate attorneys Rene Paula-Molina, Brandon R. DeFrehn, R. Elliott Tapp, and Danton J. Hill (corporate); partner Michael L. Schler and associate attorney J. Leonard Teti II (tax); partner Jennifer S. Conway and associate attorneys Lynne A. Lacoursiere and Melissa Moszkowski (executive compensation and benefits); and associate attorney Annmarie M. Terraciano (environmental).
