The City of Indianapolis completed its sale and transfer of water and wastewater utilities to Citizens Energy Group in 2011. The Faegre Baker Daniels team, consisting of M&A, real estate, regulatory, public finance and environmental lawyers, provided comprehensive services to the City of Indianapolis in connection with the City's record $1.9 billion sale.
The deal was reported to be the largest municipal water and wastewater sale in U.S. history. The FaegreBD team handled every material aspect of the transactions resulting in the sale of the utilities, beginning with the City's initial decision to consider a public-private partnership and potential partnership models and carrying through to the finalized asset purchase agreements. As part of the real estate convergence, our real estate lawyers were responsible for due diligence and transfer of hundreds of miles of pipelines, carols, waterways and related facilities.
Successful sale of its water and wastewater utilities through a public-private partnership model reduced the City's debt and freed up funds for other public projects.