Macquarie Asset Management’s Acquisition of Hellenic Electricity Distribution Network Operator

In UK White & Case, advised on the matter.

White & Case advised Macquarie Asset Management with a team including Marc Israel (Competition Law), Tim Sheddick (Corporate M&A), Simon Caridia (Picture – Energy & Infrastructures).

Macquarie Asset Management (MAM) executed the acquisition of a 49 percent interest in Hellenic Electricity Distribution Network Operator (HEDNO).

HEDNO is a Greek listed utility, majority owned by the Greek State, which operates 240,000km of medium and low voltage power lines across Greece serving 7.6 million customers. Following an international public tender process launched by Public Power Corporation S.A., MAM was declared the preferred bidder with an offer which represents an enterprise value for the 49 percent interest in HEDNO of €2.116 billion (including assumed debt of €804 million), making this landmark transaction one of the largest privatizations to have ever taken place in Greece.

Macquarie Asset Management (MAM) provides specialist investment solutions to clients across a range of capabilities including infrastructure & renewables, real estate, agriculture, transportation finance, private credit, equities, fixed income, and multi-asset solutions.

The White & Case team in London which advised on the transaction was led by partner Tim Sheddick (Picture) and included partners Simon Caridia and Marc Israel and counsel Tom Pound, with support from associates James Charteris-Black, Anna Rawlence, Asad Khan and Luc Rosenberg.

Involved fees earner: Simon Caridia – White & Case; James Charteris-Black – White & Case; Marc Israel – White & Case; Tom Pound – White & Case; Tim Sheddick – White & Case;

Law Firms: White & Case;

Clients: Macquarie Asset Management;

Author: Giulia Di Palma