Hogan Lovells Advises on one of the Largest UK Takeovers of 2011
02 August 2011
LONDON, 2 August 2011 - Hogan Lovells has advised Northumbrian Water Group plc in relation to one of the largest UK takeovers of 2011. The £4.7 billion offer for Northumbrian Water Group by UK Water (2011) Limited has announced today, Tuesday 2 August.
The board of Northumbrian Water has recommended an offer from UK Water, a vehicle owned by a consortium of three Hong Kong companies - Cheung Kong Infrastructure Holdings Limited, Cheung Kong (Holdings) Limited and the Li Ka Shing Foundation Limited. The offer is priced at 465 pence per share with a total enterprise value of around £4.7 billion.
The Hogan Lovells corporate team advising Northumbrian Water Group is led by Steven Bryan (partner) assisted by Guy Potel (partner), Pravin Aswani (senior associate), James Down (associate), Daniel Harrington-Greenwood (associate), Juliet Meredith (associate), Charlie Hawes (trainee) and Tom Spinks (trainee). Matthew Levitt (partner) and David Cardwell (associate) are advising on the competition and regulatory aspects. Louise Whitewright (partner) and Madeline Quest-Ritson (associate) are advising on Employee Share Schemes aspects.
Commenting on the transaction Steven Bryan said:
"We are pleased to be advising Northumbrian Water Group on this takeover bid, having been associated with the client since its original listing on AIM and later on the London Stock Exchange."
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