Clifford Chance and Linklaters lead the way on gas network deal
Clifford Chance advises the winning bidder on gas infrastructure deal in Germany as Linklaters advises seller Macquarie
June 19, 2016 at 07:03 PM
2 minute read
Clifford Chance (CC) is advising the winning bidder on the auction of German gas network Thyssengas, while Linklaters is acting for the seller.
The successful consortium consists of Dutch infrastructure fund DIF and French utility EDF.
Thyssengas is a German gas pipeline network that operates more than 4,200km of pipeline, which transports up to 100 billion kilowatt hours of natural gas per year.
It was sold in a competitive auction process by Australian investment bank Macquarie, reportedly for €700m.
Other bidders included investment manager First State Investment, Belgian gas pipeline operator Fluxys, Luxembourg energy utility Enovos International, Swiss insurance fund Swiss Life Asset Managers, and Chinese gas company China Energy Reserve and Chemicals Group.
CC is representing the successful consortium, in addition to acting for one of the unsuccessful bidders, Fluxys.
The team advising DIF and EDF is being led by Duesseldorf corporate partner Anselm Raddatz. He is being supported by Duesseldorf competition partner Marc Besen, Frankfurt real estate partner David Elshorst and Frankfurt employment partner Stefan Simon.
Raddatz joined CC from Freshfields Bruckhaus Deringer, where he was co-head of global energy and natural resources late last year. He joined CC as co-head of its corporate practice in Germany.
It is understood that the CC team acting for Fluxys was led by Duesseldorf energy partner Bjorn Heinlein, Munich corporate partner Markus Muhs, Duesseldorf corporate partner Mathias Elspa
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