Cravath, Kirkland Craft $115M Equity Injection Into Evergy

Law360 (February 26, 2021, 6:01 PM EST) -- Midwestern energy utility Evergy will receive $115 million from Bluescape Energy Partners as part of an agreement with the private equity shop and activist investor Elliott Investment Management LP, the companies said Friday, in a deal built by Cravath and Kirkland.

The transaction sees Bluescape Energy Partners LLC making a $115 million equity investment into Evergy Inc. by purchasing newly issued common shares, according to a statement. Bluescape also has the ability to buy additional Evergy common shares over the next three years.

"Continuous improvement is core to Evergy's mission," Evergy President and CEO David Campbell said. "Through improved efficiency and...

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