Leading global law firm Baker McKenzie advised funds managed by First State Investments and Hermes Investment Management on the acquisition of ferry operator Scandlines from 3i Group and funds managed by 3i for an equity value of EUR 1.7 billion. 3i has separately agreed to reinvest into Scandlines at the same transaction value to become a 35% shareholder alongside First State Investments (50.1%) and Hermes Investment Management (14.9%). The deal signed on Monday is expected to close in the second quarter of 2018, subject to obtaining regulatory approvals.
Commenting on the deal, Corporate Partner Tim Sheddick, says: "We were delighted to have worked on this significant transaction, particularly as this was our first lead role for First State Investments and Hermes Investment Management and this shows the continuing growth of our infrastructure practice across Europe."
The Baker McKenzie team was led by London Corporate Partner Tim Sheddick, supported by Senior Associate Tom Pound, and Associates Victoria Legg and Alex Desberg together with Senior Associate, Alexandros Stratakis on the anti-trust side. From Germany, the team was supported by Partners Nicholas Reinhuber and Jon Meese, Senior Associate Tino Marz and Associate Valesca Molinari.
This is the Baker McKenzie team's latest in a succession of major deals involving Danish infrastructure assets in the last 6 months, which included advising PKA, PFA, ATP and funds managed by Macquarie Infrastructure and Reals Assets on the EUR 5.4 billion takeover offer of Danish telecoms operator TDC A/S and advising Macquarie European Infrastructure Fund 3 on the EUR 1.3 billion sale of its stake in Copenhagen Airport.