October 31, 2007
On October 29, TECO Energy, Inc. announced its definitive agreement to sell its wholly owned subsidiary TECO Transport Corporation to an investment group led by an affiliate of Willkie client Greenstreet Equity Partners, L.P. for $405 million in cash, subject to working capital adjustment. TECO Transport is a leading provider of inland, coastwise and U.S.-flag international dry-bulk marine transportation, as well as bulk storage and transfer services at the mouth of the Mississippi River. TECO Energy is an integrated energy-related holding company with both regulated and unregulated utility businesses, including principal subsidiary Tampa Electric Company. Greenstreet is a Miami-based private equity firm founded by Steven Green, the former U.S. Ambassador to Singapore, and Jeffrey Safchik. The transaction was handled by partners Steven Seidman, William Dye, David Rubinsky, Henry Cohn and Don Elliott; special counsel Carolyn Conkling; and associates Russell Leaf, Peter Agnetti, Jeni Pepper, Kevin Klesh, Sanjay Narayan, Jason Ertel, Jeremy Feit, Dorota Niechwiej Clegg, Amanda Granacher, Angie Kronenberg and Jeffrey Clancy.
