ATLANTA, HOUSTON, NEW YORK, and WASHINGTON (May 3, 2012) – Sutherland Asbill & Brennan LLP advised Freepoint Commodities LLC in the negotiation of a definitive agreement to acquire J.P. Morgan Metals & Concentrates LLC, a leading global merchant of physical base metal concentrates and copper cathodes.
As announced April 25, 2012, Freepoint will acquire 100 percent of the equity of the business from J.P. Morgan Ventures Energy Corporation, a subsidiary of JPMorgan Chase & Co. Upon the consummation of the transaction, the name of the acquired company will be changed to Freepoint Metals & Concentrates LLC. The transaction is subject to customary governmental merger approvals. The deal will expand Freepoint’s physical commodity trading business, which currently includes North American and European gas and power, emissions, coal, oil and oil products, and LNG.
Sutherland’s Energy Group has one of the foremost energy trading practices in the country, with more than 20 lawyers representing leading independent trading firms, oil and gas companies, and six of the top 10 investment banks in all aspects of energy trading, and serves as the leading voice of the energy industry in the post-Dodd-Frank regulation of energy commodities and derivatives.
The Sutherland team representing Freepoint was led by Energy Partner Benjamin G. Clark in Houston and Corporate Partner Bert Adams in New York. Additional attorneys contributing to the team included: Tax Partners Adam B. Cohen and David A. Roby, Jr., in Washington, D.C.; Energy Partner Daniella Landers and Associate Jonathan L. Hoff in Houston; Litigation Partner James R. McGibbon in Atlanta; Corporate Partners Jeffrey P. Bialos and Douglas J. Leary in Washington, D.C., Counsel Timothy R. Dodson in Atlanta, and Associates Doyle Campbell in New York and Judith R. Watkins in Atlanta; Intellectual Property Partner Peter G. Pappas and Associate Elizabeth Ann Lester in Atlanta; and Real Estate Partner R. Rob Plowden and Associate A. Rian Perry in Atlanta.
Senior Managing Director and General Counsel Daniel Hecht led Freepoint Commodities’ in-house legal team. He was assisted by Associate General Counsel Brandon Diket and Deputy General Counsel Richard Beitler.
ABOUT FREEPOINT COMMODITIES.
Founded by former Sempra Energy Trading Executives, Freepoint Commodities is based in Greenwich, Conn., and initiated trading and marketing in June 2011. It also operates domestically in Houston, Louisville and Boise and internationally in London, Toronto and Zug.
ABOUT THE ENERGY GROUP.
More than 60 lawyers in the Energy Group represent every major sector of the energy industry. Our 40-year history of excellence in serving the regulatory, compliance and policy needs of our clients is matched by the commercial and operational experience we bring to increasingly complex transactions. Complemented with our team of well-regarded, high-profile litigators, Sutherland's energy practice is well-positioned to provide the full range of legal services to our energy clients. Our clients include crude oil and natural gas refiners and producers, domestic and multinational traders, energy lenders and marketers, hedge funds and financial institutions, independent power producers and electric cooperatives, international oilfield service providers, and renewable energy developers.