Ashurst advises consortium on the purchase of large UK district heating and cooling portfolio
09 October 2023
Global law firm Ashurst has advised Swiss Life Asset Management AG and Schroders Greencoat LLP as consortium on the proposed purchase of Equans Urban Energy's district heating and cooling networks in the UK.
The portfolio consists of district heating and cooling networks across the UK, including London, Birmingham, Leicester, Southampton, Coventry, Newcastle, Edinburgh and Humber. Completion of the transaction is expected to occur at the end of 2023, subject to relevant approvals.
The Ashurst team was led by Jason Radford supported by a multi-disciplinary core team of Nick Stalbow, Steven Vaz, Emile Abdul-Wahab, Louisa Denison, Florence Chan, Ruth Buchanan, India Coultas, Bruce Hanton, James Shepherd, Camilla Booth-Clibborn, Louise Chan, Gareth Mair, Rebekah Oakes, Alexandra Riley-Joseph, Christopher Bates, Aruse Okaisabor, Rhena Dhugga, Nicholas Gardner, Mark Spinney and Umut Bektas.
Commenting on this sale, Jason said: "It is a pleasure to have assisted the consortium in establishing their UK heating and cooling portfolio. This was a complex transaction but we're delighted to have supported Swiss Life and Schroders Greencoat on their entry into a market that we expect to expand in size in support of the UK's net-zero objectives."
