Financial transaction

Four companies advise as shareholders on SPAC’s $ 1.15 billion merger with Archaea Energy

Kirkland & Ellis Washington, DC offices REUTERS / Andrew Kelly

  • Kirkland represents Rice SPAC, whose investors blessed the merger this week
  • Richards, Layton & Finger advises special committee
  • Pillsbury guides Archaea, Orrick directs Aria

(Reuters) – Four law firms are advising blank check firm Rice Acquisition Corp on its proposed $ 1.15 billion merger with Aria Energy LLC and Archaea Energy LLC, approved Thursday by Rice shareholders, bringing together agreement to create the largest renewable public gas company in the United States.

Kirkland and Ellis; Richards, Layton and Finger; Pillsbury Winthrop Shaw Pittman and Orrick Herrington & Sutcliffe are working on the special purpose acquisition company merger.

The deal was originally announced in April.

SPACs, or blank check companies, raise funds through initial public offerings to merge with private companies and make them public.

Rice SPAC appealed to Kirkland, the underwriters’ lawyer for its October IPO, for advice on the union. The Kirkland team is led by business partners David Feirstein and Cyril Jones and capital markets partners Matt Pacey and Lanchi Huynh.

Pacey and Huynh also led the IPO in June of Rice’s predecessor SPAC, Rice Acquisition Corp. II, filed with the United States Securities and Exchange Commission.

Richards, Layton and Finger advised the PSPC special committee, which reviewed and negotiated the transaction.

A Pillsbury team led by energy partner Mona Dajani represents Archaea.

Orrick advises Aria, a holding company of investment firm Ares Management Corp. The law firm‘s team is led by business partners John Cook and Kristin Seeger.

The special committee’s financial advisor is Moelis & Co LLC, and Aria’s is Barclays. Citi, Jefferies LLC and Roth Capital Partners LLC acted as co-placement agent for a private public equity investment related to the merger.

The union with Aria and Archaea will create a business focused on capturing and converting waste emissions from landfills into low-carbon renewable natural gas, electricity and green hydrogen, according to a press release.

Once the transaction is completed on or around September 15, the combined company will be called Archaea Energy Inc and will be listed on the New York Stock Exchange under the symbol “LFG”.

Read more:

Rice investors approve Archaea merger for $ 1.15 billion

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