CC advises Asterion and EDF on EAG acquisition for £500m

Clifford Chance has advised Spanish infrastructure investment fund Asterion and French electricity company Électricité de France (EDF) on the acquisition of British gas meter company Energy Assets Group (EAG)

The European Comission has recently authorized the acquisition of EAG by a consortium formed by Asterion, EDF and Swiss life for £500 million. To finance and undertake the transaction, Asterion partnered with EDF Invest, an investment arm of Electricite de France, and the Swiss pension manager Swiss Life. The three firms have created a consortium to integrate EAG, where Asterion will maintain control.

Asterion already reached an agreement with the owners of EAG, which are Alinda Capital Partners and Hermes Investment Management fund.

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