|Date Announced:||May 17, 2016|
|Date Closed:||June 23, 2016|
|Client Name:||Crius Energy Trust|
Following the successful completion of the tender offer, Crius Trust increased its ownership interest in Crius Energy, LLC from approximately 43.1% to 100%.
Crius Energy, LLC is one of the largest independent energy retailers operating in the United States, with over 950,000 residential customer equivalents. It sells electricity, natural gas and solar products to residential and commercial customers in the United States and markets its products through a variety of sales channels and brand names. Crius Energy, LLC currently sells energy products in 19 states and the District of Columbia with plans to continue expanding its geographic reach. The offering was completed through a syndicate of underwriters co-led by Desjardins Securities Inc., Scotia Capital Inc. and RBC Dominion Securities Inc., and including Cormark Securities Inc., Canaccord Genuity Corp. and Mackie Research Capital Corp.
Bennett Jones LLP acted as Canadian counsel for Crius Trust with a team that included Christian Gauthier and Andrew Disipio (corporate/securities), and Thomas Bauer, Philip Ward and Andrew Sullivan (tax). Haynes and Boone, LLP acted as U.S. counsel for Crius Trust with a team that included Kendall Hollrah and Simin Sun (corporate/securities), and Sam Lichtman and Don Shiman (tax). Baker Botts LLP acted as U.S. regulatory counsel to Crius Trust with a team that included Gregory Wagner and Elaine Walsh (U.S. regulatory).
The underwriters were represented by Baker & McKenzie LLP with a team that included Kevin Rooney, Ora Wexler and Konrad Pola (corporate/securities), and Peter Clark and Patricia McDonald (tax).