Varnum served as Michigan counsel in the regulatory approval process for the purchaser in the sale of a regulated electric utility serving over 50,000 retail customers in Michigan to a London-based infrastructure investment firm.
Varnum’s strategic approach to the deal included facilitating meetings between the client and regulatory officials as well as with other key government agencies, including the Attorney General’s office, Senate and House energy committee chairs, and the governor’s office. These meetings, held prior to seeking regulatory approval, helped to ensure a proper introduction of the purchase plan and provided an opportunity for the client to learn about and address any concerns of regulators. This “no surprises” approach greatly aided in obtaining regulatory approval ahead of the estimated completion date and significantly under budge