Freshfields Advising Consortium Led by Cheung Kong Infrastructure Holdings on £2.4bn Recommended Acquisition of Northumbrian Water

International law firm Freshfields Bruckhaus Deringer is advising a consortium led by Cheung Kong Infrastructure Holdings Limited, the Hong Kong listed infrastructure company, on its recommended cash acquisition of Northumbrian Water Group plc, the UK listed water company. The acquisition values Northumbrian Water’s issued share capital at approximately £2.4bn.

The Freshfields team is being led in London by corporate partners Piers Prichard Jones and Edward Braham and in Hong Kong by corporate partner Simon Weller. The corporate team includes senior associate Richard Jones and associate Robin Scott in London, and counsel Edward Freeman and associate Sam Brown in Hong Kong. London finance partner Peter Hall is leading the finance team, assisted by London senior associate Geoff O’Dea and London associates Natalie Dyce and Leon Daoud. Anti-trust and regulatory advice is being provided by partner David Aitman, senior associate Satyen Dhana and associate Stephen Williams in London. Employment and pensions advice is being provided by London partner Nicholas Squire and senior associates Alice Greenwell and Caroline Smith. 
Freshfields corporate partner Piers Prichard Jones commented: ‘We are delighted to be acting for the CKI consortium on this significant and complex take private, which has allowed us to draw upon our UK public M&A expertise in both London and Hong Kong. The deal further demonstrates the attractiveness of the UK utilities sector to infrastructure investors.’ 
The Freshfields team also worked alongside UK national firm, Mills & Reeve, who advised CKI on its disposal of Cambridge Water plc, which completed before the announcement of the Northumbrian Water transaction. The Mills & Reeve team was led by corporate partners Stephen Hamilton and Claire Clarke, assisted by associate Natalie Wade.