Ashurst advised PPL Corporation, the US energy company, on the competition law and regulatory aspects of its £3.5 billion (US$5.6 billion) acquisition of Central Networks, the UK regulated electricity distribution businesses for the Midlands, from E.On. PPL will also assume £500 million of existing debt in Central Networks.

PPL already owns Western Power Distribution in the UK, which operates about 52,000 miles of lines in South West England and South Wales, including the cities of Bristol and Cardiff.

The Ashurst team was led by Ashurst chief economist, Mat Hughes, who was assisted by senior associate Luke Ainger, with corporate partner, Adrian Clark, also providing corporate support.

Simpson Thacher & Bartlett LLP and Allen & Overy LLP also advised PPL.