Crown Castle’s $1.5 Billion Acquisition of FiberNet

On November 1, 2016, Crown Castle International Corp. announced that it has entered into a definitive agreement to acquire FPL FiberNet Holdings, LLC and certain other subsidiaries of NextEra Energy, Inc., collectively known as FiberNet, for approximately $1.5 billion in cash. Cravath is representing Crown Castle in connection with the transaction.

The Cravath team is being led by partners Stephen L. Burns and Erik R. Tavzel and includes associates Andrew M. Wark and Devon A. Klein on M&A matters; partners Andrew W. Needham and Christopher K. Fargo and associates Arvind Ravichandran, Ashley N. Elnicki and Joyce Y. Kim on tax matters; partner Eric W. Hilfers, senior attorney Lawrence A. Pasini and associate Matthew J. Bobby on executive compensation and benefits matters; and partner Matthew Morreale on environmental matters. Michael L. Andrisani also worked on M&A matters and Christopher C. Gonnella also worked on executive compensation and benefits matters.