Travers Smith advises 3i on agreement to sell its stake in Anglian Water Friday, 23 March 2018
Tuesday, 19 December 2017
Travers Smith LLP has advised 3i on its agreement to sell its stake in Anglian Water Group, the parent company of Anglian Water, the supplier of water and water recycling services to over six million domestic and business customers in the east of England and Hartlepool.
The acquirer is a consortium of Dalmore Capital and GLIL Infrastructure LLP (the infrastructure investment joint venture between five local Government pension funds). The sale is conditional on certain third party consents and completion is expected in early 2018. 3i acquired its stake on AWG's take-private in 2006 by a consortium of investors.
The Travers Smith team advising on the transaction was led by Private Equity Partner Lucie Cawood, who was supported by Senior Private Equity Associate Genevieve Marten and Private Equity Associate Lauren Causon. Tax advice was provided by Head of Tax Simon Skinner and Senior Associate Silvana Van der Velde and merger control/regulatory advice was provided by Head of Competition Nigel Seay and Associate Richard Brown.
Dalmore and GLIL were advised by CMS Cameron McKenna Nabarro Olswang LLP.