Global menu

Our global pages

Close
Eversheds electrifies on multibillion-pound gas sale for National Grid

Eversheds electrifies on multibillion-pound gas sale for National Grid

  • United Kingdom
  • Global

    08-12-2016

    Eversheds has supported utilities giant, National Grid, on the £13.8bn sale of a large proportion of its UK gas distribution business (NGGD) to a consortium of infrastructure investors. The team also led on the resulting business separation.

    The winning consortium, selected after a competitive auction, comprises Macquarie Infrastructure and Real Assets, Allianz Capital Partners, Hermes Investment Management, CIC Capital Corporation, Qatar Investment Authority, Dalmore Capital and Amber Infrastructure Limited/International Public Partnerships, with the deal valuing the gas distribution business at £13.8bn.

    The Eversheds team was led by James Trevis and Sue Lewis, both corporate partners, supported by Anne Harris, commercial partner, and a large cross practice team. Stuart Earle, partner, led on the pensions work.

    Eversheds advised National Grid alongside the Linklaters team, led by corporate partners Roger Barron and Jessamy Gallagher.

    James Trevis, says:

    “Eversheds has worked with National Grid for over ten years to build a strong relationship and that, coupled with the innovative approach and a strong collaboration with Linklaters, ensured the sale process was a success.”

    Mark Noble, Deputy Group General Counsel at National Grid, comments:

    “The separation and sale of our UK Gas Distribution business has been a huge undertaking. The gas distribution business, if separately listed, would be a FTSE 50 company and comprises around 15% of the UK’s energy infrastructure. The Eversheds team has played a major part in the success of the transaction - working in partnership with the National Grid team and other panel law firms. I have been very impressed with the team, the use of technology and their commitment to working collaboratively to deliver this outstanding result.”

    Disclaimer

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

    < Go back

    Print Friendly and PDF
    Register to receive regular updates via email.