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Oncor to Acquire InfraREIT; Sempra Energy to Acquire 50% Stake in Sharyland Utilities

Vinson & Elkins advised Oncor Electric Delivery Company LLC (Oncor) in its agreement to acquire 100 percent of the equity interests of InfraREIT, Inc., including all the limited-partnership units in its subsidiary InfraREIT Partners, LP, for approximately $1.275 billion, or $21 per share (or partnership unit), excluding certain transaction costs. 

Concurrently with the transaction, Sempra Energy, majority equity owner of Oncor, will acquire a 50-percent limited-partnership interest in a holding company that will own Sharyland Utilities, LP (Sharyland) for approximately $98 million, and Oncor, through subsidiaries of InfraREIT, will acquire certain North and West Texas assets of Sharyland.

The V&E corporate team was led by partners Chris Rowley and Alan Bogdanow, with associates Robert Stelton-Swan and Abby Branigan. Also advising were partner Jo Ann Biggs and counsel Jaren Taylor; partners Jim Meyer and Chris Mangin and associate Paige Anderson; partner Chris Dawe; partner David D’Alessandro and associate Steven Oyler; senior associate Christie Alcalá; associate Julie Monier; partner Daniel LeBey; partner Billy Vigdor; partner Peter Mims; and partner Larry Nettles and senior associate Taylor Holcomb.

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