LAWFUEL – The Legal Newswire – Allen & Overy LLP today announced that it has advised Greensands Investment Limited (Greensands) on its agreement to acquire Southern Water Capital Limited (Southern Water) from Royal Bank Investments Limited for an enterprise value of GBP4.195 billion.
Allen & Overy LLP today announced that it has advised Greensands Investment Limited (Greensands) on its agreement to acquire Southern Water Capital Limited (Southern Water) from Royal Bank Investments Limited for an enterprise value of GBP4.195 billion
Greensands comprises a group of experienced, long-term investors in infrastructure. The investors in Greensands are:
A fund advised by JP Morgan Asset Management Infrastructure Investments Group (32% shareholding);
Challenger Infrastructure Fund (27% shareholding);
UBS AG (18% shareholding);
Seven Australasian superannuation funds advised by Access Capital Advisers (18% shareholding);
Hermes (4% shareholding); and
Paceweald Limited, advised by Consensus Business Group (1% shareholding).
Southern Water provides clean water and sewerage services in the South East of England, across an area covering Kent, Sussex, Hampshire and the Isle of Wight. Southern Water is the 7th largest water and sewage company in England and Wales and supplies water to over 2.3 million people and provides wastewater services to approximately 4.3 million people.
The Allen & Overy M&A team was led by corporate partner Alan Paul, assisted by Dominic Morris, Daniel Knight and Ed Timmins with the equity financing team being led by private equity partner Susan Howard, assisted by Jo Nichols and Andrew Perry. The debt financing team was led by banking partner Anne Baldock, and senior associates Conrad Andersen and Will Lucas, assisted by Karen Brown. Environment partner Owen Lomas, assisted Jennifer Wallace, and anti-trust partner Mark Friend, assisted by Maureen O’Neill also advised on the transaction.
