CMS instructed on USS-Redexis deal

CMS Albiñana & Suárez de Lezo advised European pension fund USS on a deal that saw it increase its stake in Redexis Gas to 33.3 per cent.

USS increased its stake as a result of a deal that saw the fund, along with fellow pension fund ATP and infrastructure investors GT Fund and CNIC, buy a combined 50.1 per cent stake in Redexis Gas from Goldman Sachs Infrastructure Partners, which was advised by Clifford Chance and KPMG Abogados.

The deal means USS and ATP now each own a 33.3 per cent stake in Redexis Gas, with GT Fund and CNIC jointly owning a further 33 per cent stake.

The CMS Albiñana & Suárez de Lezo team advising USS included partner Carlos Peña and associate Guillermo Donadeu.