Sidley Advised Vistra on Acquisition Financing of Cogentrix Energy

Sidley Advised Vistra on Acquisition Financing of Cogentrix Energy

Sidley represented Vistra Corp. (Vistra) in connection with certain financing and disclosure aspects of its definitive agreements to acquire Cogentrix Energy, which is indirectly owned by funds managed by Quantum Capital Group. The transaction was announced on January 5, 2026, and has an enterprise value of approximately US$4.7 billion.

The acquisition includes three combined cycle gas turbine facilities and two combustion turbine facilities located across PJM, four combined cycle gas turbine facilities in ISO New England, and one cogeneration facility in ERCOT. According to Vistra, the transaction further strengthens its industry-leading generation portfolio and expands its presence across key U.S. power markets.

The Sidley team was led by Kelly M. Dybala (Partner), William D. Howell (Partner), and Sean Damm (Partner), and included Ogechi A. Ezeofor (Associate) and Alexander S. Waddell (Managing Associate/ Global Finance); Elizabeth M. Schubert (Partner) and Michael Kalan (Senior Managing Associate/ Investment Funds); Renaud Poizat (Managing Associate/ Securities Enforcement and Regulatory); Sarah Tucker (Partner), Keturah A. Brown (Counsel) and Casey Khan (Counsel/ Energy and Infrastructure) and Molly Homann (Managing Associate/ M&A).

If you have a news or deal publication or would like to collaborate on content, columns, or article publications, connect with the Legal Era News Network Team and email us at info@legalera.in or call us on +91 8879634922.