Jackson Walker successfully represented global commodity merchant Castleton Commodities International LLC (CCI) in its acquisition, through one of its subsidiaries, of Enstor Energy Services LLC (EES), the natural gas trading business of Avangrid Renewables Holdings Inc., a wholly owned subsidiary of Avangrid Inc., a $32 billion diversified energy and utility company. The transaction closed on March 1, 2018.
CCI consistently ranks among the top marketers of natural gas in the U.S. â transacting on approximately 100 pipelines and over 60 storage facilities to create a geographically diverse portfolio of natural gas assets. CCI markets a broad range of physical commodities, including electric power, natural gas, natural gas liquids, refined products, crude oil, fuel oil, freight, base metals, and petrochemicals.
Robert Ruckman, Head of CCIâs U.S. Natural Gas Trading group, said in a recent press release: âThe EES acquisition increases our activities in the North American wholesale natural gas market. We are pleased to add this business to CCIâs broader natural gas platform and remain focused on pursuing strategic growth opportunities through targeted principal investments.â
Representing CCI in the acquisition was a Jackson Walker team led by Jesse S. Lotay with assistance from Leonard H. Dougal, Richard G. Garza, Kevin A. Jones, Brit Nelson, John M. Ransom, Eve M. Searls, Jeremy I. Sheng, and Paul E. Vrana. Jackson Walkerâs successful representation emphasizes the firmâs demonstrated experience in energy acquisition and disposition transactions and in commodities and derivatives. For more information about the firmâs experience, visit Jackson Walkerâs Energy Law and Corporate and Securities practice area pages.
Meet Jesse
Jesse S. Lotay is a San Antonio partner and energy, structured finance, and commodities and derivatives attorney. Jesse’s practice includes advising clients on energy-based commodities, derivatives, and other structured products, marketing and trading activities, assessing and minimizing risk across transactions, and financially and physically settled hedging transactions under industry-standard and party-specific agreements.