CC, Milbank, Skadden bag prisma buyout

Clifford Chance and New York firms Milbank Tweed Hadley & McCloy and Skadden Arps Slate Meagher & Flom advised on the $2.1bn (£1.12bn) acquisition of Prisma Energy by Ashmore Energy. Prisma, a subsidiary of disgraced energy giant Enron, holds Enron’s energy assets in Latin America, Turkey, Poland and the Philippines, including power plants and gas pipelines. Cayman Islands-based Ashmore Energy is majority-owned by funds managed by Ashmore Investment Management. Clifford Chance advised Ashmore, led by New York M&A partner David Brinton. Skadden represented Prisma, while Milbank advised Enron. Deutsche Bank Securities and ABN Amro were the financial advisers.