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Clifford Chance advises lenders on refinancing and increase of the existing capex facility for Ferngas Group

Wed, 25 Mar 2026 13:03:29 GMT

The new credit facilities amount to a total volume of €445 million and are intended for future investments, including in hydrogen infrastructure.

The Ferngas Group operates, as a combined network operator, a gas transmission and distribution network in various regions of Germany.

The Clifford Chance team for the lenders comprised partner Florian Mahler (Düsseldorf), counsel Georg Lübbehüsen (Frankfurt), and senior transaction lawyer Rima Lenders (Düsseldorf; all Global Financial Markets).

Clifford Chance advises HLD Europe on its second 6-year public bond issue of €300 million

Tue, 24 Mar 2026 16:56:15 GMT

This second public issuance, following the one in March 2025, was met with strong demand, attracting an oversubscription of more than 5 times from a solid and diverse base of institutional investors. The bond issue was led by BNP Paribas, Crédit Agricole CIB and Société Générale as Global Coordinators and Active Bookrunners, BIL and Bred as Passive Bookrunners.

The success of the operation reflects market confidence in HLD Europe’s strategy and robust financial structure. It provides HLD Europe with an additional source of funding, enhancing the group’s agility to support its portfolio companies and to accelerate its growth.

The HLD Europe team was composed of Jean-Bernard Lafonta (Founding Partner), Cédric Chateau (Partner and Chairman of the Investment Committee), Pauline de Williencourt (Head of Financing) and Constance Laneque (Administrateur Délégué Général).

Clifford Chance advised HLD Europe with a team in Paris comprising Pierre-Benoit Pabot du Châtelard, partner, Auriane Bijon, counsel, as well as Quentin Hervé, Batoul Laanani and Sabrine Kadi, associates.

The Luxembourg office also advised on the deal with Marc Mehlen, partner, Antonio Arenas Torres, counsel, and Javier Fernández-Becerra, associate, on the banking aspects, as well as Charlotte Reynders, counsel, and Guilhem Morvilliers, associate, on the funds aspects.

Clifford Chance advises mandated lead arrangers on Savills’ acquisition of Eastdil Secured

Tue, 24 Mar 2026 11:08:00 GMT

The acquisition significantly strengthens Savills’ capital markets and real estate investment banking capabilities, particularly in North America, and creates one of the world’s leading global real estate advisory platforms.

The cross-border Clifford Chance team was led by Debt Finance partner Jim MacHale, working with Charlotte Holt, Pia Sulkava and Allyx Guittard in London; Charlotte Leung, Florence Yu and Brian Wang in Hong Kong; Bettina Steinhauer and André Weber in Germany; and Jason Ewart, Tom McGowan, Xiaowen Zou, Avrohom Gelber (Tax) and Kade Moural (Tax) in New York. Corporate advice was provided by Alexandra Wilde and Austin Johnson in our Houston office.

Clifford Chance advises on the financing of a 20MW green hydrogen project in Milford Haven, Wales

Tue, 24 Mar 2026 10:31:00 GMT

Construction activities have now commenced, with the plant expected to enter operation by early 2028. At full capacity, it will generate around 2,000 tonnes of low‑carbon hydrogen each year, providing a clean energy source for industrial heating, manufacturing processes and the wider decarbonisation of the Milford Haven port.

The firm advised on all aspects of the project financing, including due diligence regarding the planning, environmental and regulatory regime applicable for the hydrogen plant, grant funding from the Net Zero Hydrogen Fund and government support documentation relating to the new hydrogen production business model.

The Clifford Chance team was led by Energy and Infrastructure partners Bryony Theaker and Russell Wells, with support from senior associates Hannah Collins and Josephine Stefani, and associates Solene Kendem and Seika Osafune. The cross-practice team included partners Edward Bretherton, Chin Seng Chew, Jemma Dick, Anne Drakeford, Adam Hedley and Alis Pay, with senior associates Paula Mullin and Kate Mackintosh, and associates Bogomil Kukovski, Hong Yang See and Ben Stewart.

Clifford Chance advises FS.com Limited on its HK$1.67 billion Hong Kong IPO and listing

Tue, 24 Mar 2026 06:29:00 GMT

Chair of China Practice and partner Tim Wang co-led the transaction with partners Fang Liu and Virginia Lee with support from counsel Erxin Lu, senior associate Astrid Zhuang, associates Jonathan Zhang, Sibin Hong, Heverly Ma and Grace Wang* and trainee solicitor Virginia Xie.

FS.com provides networking solutions through its online sales platform, FS.com. The company's offerings include networking hardware, operating systems and cloud‑based network management platforms. These solutions support use cases across high‑performance computing, data centers, enterprise networks and telecommunications, serving customers globally through a platform‑centric and online‑enabled delivery model.

Clifford Chance has advised on the listings of many technology companies in China, including the listings of Mininglamp Technology, Deepexi Technology and Xunfei Healthcare.

* From Shanghai He Ping Law Firm. Clifford Chance LLP and Shanghai He Ping Law Firm have established a Joint Operation in the China (Shanghai) Pilot Free Trade Zone under the name Clifford Chance LLP and Shanghai He Ping Law Firm (FTZ) Joint Operation Office with the approval of the Shanghai Bureau of Justice.

Clifford Chance strengthens Global Financial Markets practice with the addition of David Ballegeer

Mon, 23 Mar 2026 14:09:00 GMT

David advises clients across a wide range of sectors, with a particular focus on the energy and energy transition sector. His practice focuses on complex financings, including bank–bond structures, sustainability linked and green financings. He advises EU and non-EU incorporated groups, listed and non-listed, as well as lenders, on debt and capital markets products across the entire capital structure. He brings enthusiasm and a wealth of experience to the table.

Emma Matebalavu, Global Head of Global Financial Markets at Clifford Chance, stated: "We are pleased to welcome David to our team. His arrival supports our growth plans in Europe and globally, especially in debt finance and capital markets."

Alexandre Ooms, Managing Partner at Clifford Chance's Brussels office, added: "David brings extensive experience in banking and capital markets in Belgium, advising on a broad range of finance transactions – a valuable addition for our clients and our team."

David Ballegeer commented: "I look forward to bringing my experience to Clifford Chance. Its collaborative culture and clear vision for both domestic and international markets provide an ideal platform to create advantage for our clients in Belgium and globally."

Clifford Chance advises the joint lead managers on Corporación Andina de Fomento's debut 144A/Reg S bond offering under its MTN programme

Mon, 23 Mar 2026 11:11:00 GMT

This transaction was CAF's debut 144A/Reg S offering under the programme.

The Clifford Chance team was led by Antonio Henriquez, partner responsible for the English law capital markets practice in Madrid, and Global Financial Markets partner Jonathan Zonis in New York, supported by senior associate Anna Buscaglia in Madrid on English law matters and associate Alexandra Machado in New York on US federal and state law matters.

Clifford Chance advises Goldman Sachs on the financing of Amplifon's acquisition of GN Hearing

Fri, 20 Mar 2026 15:42:00 GMT

Under the terms of the agreement, GN will receive €1.69 billion in cash and 56 million Amplifon shares, making GN Store Nord a strategic partner of Amplifon. The transaction is expected to close by the end of 2026 subject to customary closing conditions, including regulatory approvals and the carve-out of GN Hearing from the GN Group.

The new group, with combined revenues of approximately €3.3 billion and a presence in over 100 countries, will form a global powerhouse uniquely positioned to accelerate innovation, deliver superior patient experience and expand access to hearing care.

The Clifford Chance team was led by partner David Neu (Global Financial Markets, Munich) and further comprised senior associates Minerva Vanni (Milan), Genevieve Wohlfeil (Munich) and Katy Parkes (London), associate Aldo Brombin Tuzzato (Milan), trainee Asia Carugo Racines (Munich), partners David Robson and Michael Dakin (London, all Global Financial Markets), partner Alex Cook and counsel Stefano Parrocchetti Piantanida (both Corporate, Munich and Milan), partner Lucio Bonavitacola and counsel Riccardo Coassin (Global Financial Markets, Milan), partner Luciano di Via and senior associate Antonio Mirabile (Corporate/Antitrust, Rome) and partner Carlo Galli and senior associate Andrea Sgrilli (Tax, Milan).

Clifford Chance advises VOYAH Automotive on its listing by way of introduction in Hong Kong

Fri, 20 Mar 2026 11:32:00 GMT

VOYAH Automotive is a non-wholly owned subsidiary of Dongfeng Motor Group Company Limited and specialises in the research and development, production, sales and after-sales services of high-end electric vehicles. The firm had advised Dongfeng Motor on the take-private merger of VOYAH Automotive, announced in September 2025.

Chair of China Practice and partner Tim Wang co-led the transaction with partners Jean Thio and Tianning Xiang with support from counsel Janet Fok, senior associates April Zhang, Li Yaping and Mao Meng, associate Janssen Yang, legal assistant Kelly Shi and legal analysts Iris Wang and Joanne Liu.

Tim said, "We are pleased to have advised VOYAH Automotive on its H‑share listing by way of introduction. This transaction draws on our market-leading experience advising clients in the transport and mobility sectors, including some of the most innovative EV and intelligent mobility companies. We look forward to continuing our work with VOYAH Automotive as its business develops."

The firm has advised on the successful listings of several EV and intelligent mobility companies, including Leapmotor, CiDi, PATEO CONNECT Technology and Black Sesame.

Clifford Chance advises Klesch Group on the acquisition of BP's Gelsenkirchen Refinery Business

Thu, 19 Mar 2026 14:46:05 GMT

The transaction, expected to close in Q2 2026, subject to regulatory approvals, represents a significant expansion of Klesch's oil refining capabilities in Europe and underscores the company's commitment to the long-term sustainability of critical industrial infrastructure.

GSK is the second-largest ethylene producer in Germany with a crude throughput capacity of approximately 12 million tonnes per year. With a workforce of around 2,300 people, it produces petrol, diesel, jet fuel, heating oil, and more than 50 other products, primarily for the chemical industry.

Established in 1990, Klesch is a leading independent refiner employing approximately 1,000 people. The company's asset portfolio includes the Heide Refinery in Germany and the Kalundborg Refinery in Denmark. Klesch plays a strategically important role in supporting the security of critical fuel supply and transportation energy needs across Germany and Denmark.

The Clifford Chance team advising Klesch Group on this transaction was led by partner Jörg Rhiel and comprised senior associate Friedrich von Bülow and associate Helge Brück (all Corporate/M&A, Frankfurt), partner Mathias Elspaß, senior associates Duy Tuong Huynh and Marie Georgi and associates Pauline Leven and Louisa Nowalder (all Corporate/Energy, Düsseldorf), partner Christopher Fischer and associate Julia Kolb (both Employment, Frankfurt), counsel Amrei Fuder and senior transaction lawyers Birgit Seyfert and Sophie Töke (all Real Estate, Frankfurt), partner Dominik Engl and counsel Claus-Peter Knöller (both Tax, Frankfurt), partner Holger Lutz, senior associate Michael Kümmel and associate Stephanie Giek (all Corporate/Tech Digital, Frankfurt), counsel Nicolas Hohn-Hein (IP, Düsseldorf), partner David Pasewaldt, counsel Gerson Raiser and associate Jan Richter (all Compliance, Frankfurt) as well as partner Dimitri Slobodenjuk, counsel Caroline Scholke, Senior Associate Arne Gayk and associates Lisa Rotterdam and Patricia Trapp (all Antitrust, Düsseldorf).

Clifford Chance advises BlackRock in the on-chain capital markets and decentralized finance space

Wed, 18 Mar 2026 08:45:00 GMT

The Clifford Chance cross-practice teams in New York included tech digital, Corporate M&A and litigation.

Clifford Chance advises Euroclear and Clearstream on the launch of a new Dematerialised Notes structure

Tue, 17 Mar 2026 10:56:00 GMT

The new structure removes the need for paper‑based note certificates, representing a significant step forward in the ICSDs’ broader efforts to modernise the issuance and settlement of debt securities. By leveraging existing market infrastructure while introducing a fully dematerialised solution, the product delivers a more streamlined and resilient issuance process for market participants.

This initiative is intended to serve as a foundation for the modernisation and digitisation of the Eurobond market, with a clear focus on enhancing efficiency, accelerating issuance timelines, reducing operational and settlement risk, and preserving the market’s global attractiveness and competitiveness. The structure also supports a more sustainable issuance process, aligning closely with ESG‑related objectives through the elimination of physical documentation.

The current in-scope issuers for the new structure are: (i) entities incorporated under the laws of England & Wales, Scotland or Northern Ireland; and (ii) supranational issuers.

Clifford Chance advised the ICSDs respectively on English, Belgian and Luxembourg law, as well as UK and U.S. tax matters, in connection with the projects. As part of the engagement, the team developed a comprehensive Legal Pack designed to assist market participants in updating traditional Eurobond documentation to enable issuance under the new structure. The Legal Pack has been published by the ICSDs on their respective websites.

The Clifford Chance team was led by partners Matteo Sbraga, Steve Jacoby and Lounia Czupper, supported by consultant Jeremy Walter, knowledge director Jessica Walker, counsel Boika Deleva, senior associates Domenico Cullura and Ayan Koshal, associate Dominik Schlarb and consultant Andrew Coats.

Tax advice was provided by partners Jemma Dick, Avrohom Gelber, director Cameron Dwyer and associate Alex Shaw.

Clifford Chance advises EIG, Schroders Capital and Eiffel Investment Group on milestone €500 million financing for ENERPARC AG’s expansion

Mon, 16 Mar 2026 17:12:00 GMT

The Clifford Chance team supported the consortium of global asset managers on all aspects of the transaction which enables ENERPARC AG to pursue its medium-term growth targets and further expand its portfolio of solar and co-located battery energy storage systems across Germany, France and Spain.

This transaction underlines Clifford Chance’s commitment to supporting clients in the energy transition and its ability to deliver on complex financings solutions that promote sustainable growth.

The international Clifford Chance team was led by partner Florian Mahler and further comprised counsel Bahar Rahimyar, senior associate Birte Hüller, associate Maximilian Schroff and senior transaction lawyer Rima Lenders (all Global Financial Markets, Dusseldorf), partner Christof Häfner (Global Financial Markets, Frankfurt), partner Dominik Engl, counsel Claus-Peter Knöller and associate Christina Wanner (all Tax, Frankfurt), partner Gregor Evenkamp (Munich) and counsel Werner Radziwill (Frankfurt, both Global Financial Markets), of counsel Björn Heinlein and senior associate Marie Georgi (both Corporate/Energy, Dusseldorf) as well as partners Chloé Desreumaux and Julien Rocherieux, counsel Nina Yoshida and associate Ophélie Han Fing (all Global Financial Markets, Paris).

Clifford Chance advises National Storage Affiliates in its agreement to be acquired by Public Storage

Mon, 16 Mar 2026 12:00:00 GMT

Under the terms of the agreement, holders of NSA common shares and operating partnership units will receive 0.14 of a share of PSA common stock or partnership unit for each NSA share or unit they own, representing a total consideration of US$41.68 per share based on PSA’s closing share price on March 13, 2026.

The transaction was led by M&A partners Chang-Do Gong and Robert Chung; Capital Markets partner Andrew Epstein and senior counsel Jay Bernstein; and Real Estate partner Jeanne Roig-Irwin. They were supported by counsel Tae Ho Cho, associates Zoya Afridi, Jed Tifft and Paul Lakkis and law clerk Cormac O’Halloran on capital markets matters, and associates Marina Livingston, Ed Vaunder, and Vicki Ye, and foreign lawyer Ariel Cohen, and law clerk Danielle Mimeles on M&A matters. The wider team included:

• Real estate: associates Felicia Siegel and Tanecia Britt
• Tax: partner Michael Seaton, associate Sharon Yu
• Employment and benefits: partner Reuven Falik, counsel Meghan Fox, associates David Walsh and Emma Himes
• Debt capital market: partner Gary Brooks
• Antitrust: Partner Brian Concklin, counsel Lauren Rackow.

Chance advises Azelis on its €400 million bond refinancing

Thu, 12 Mar 2026 16:46:00 GMT

Clifford Chance has previously advised Azelis on multiple financing transactions, including the company's IPO on Euronext Brussels and the related financing arrangements in 2021, its €400 million debut bond offering in 2023 and its €1.7 billion bond and loan refinancing in 2024. The proceeds from this transaction will be used to refinance certain existing debt of the company, extending its debt maturity profile and reducing its cost of capital.

Clifford Chance's high yield bond team was led by London partner Drew Rundus and associates Aritra Saha and Saherish Surani. Belgian law advice was provided by senior counsel Wim Aerts and associate Sonia Belhassen.

Clifford Chance advises managers on Ahold Delhaize’s €800 million dual-tranche notes transaction listed on Euronext Dublin

Thu, 12 Mar 2026 10:41:57 GMT

BNP PARIBAS, BofA Securities (sustainability structuring coordinator), ING, J.P. Morgan and Rabobank acted as joint lead managers, and ABN AMRO, Erste Group, SMBC and Wells Fargo acted as co-managers. The notes settled on 12 March 2026 and are listed on Euronext Dublin. Read more about this transaction here.

The Clifford Chance team was led by Dewi Walian and consisted of Mark van Brest, Yassin van Meel and Rody Mettler (Global Financial Markets) and Nolan Groenland, Robin Houtveen and Johan Anton Niesten (Tax).

Clifford Chance advises 3i Infrastructure plc on its investment in Lefdal Mine Datacenter

Wed, 11 Mar 2026 16:58:00 GMT

The Clifford Chance team was led by Global Co-Head of Infrastructure Charlotte Madden and Global Head of Funds Alexandra Davidson, together with Josh Reynolds, Erin Hanson, Camilla Blower, Caitlin Haynes and Ema Khan. The wider team included colleagues advising on Tax, Regulation, Antitrust and Real Estate.

Clifford Chance advises BD on global spin-off of its Biosciences & Diagnostic Solutions Business

Wed, 11 Mar 2026 12:25:00 GMT

Biosciences is a leader in immunology and cancer research solutions and related clinical diagnostics, including flow cytometry instruments and reagents, and innovative multiomics tools. Diagnostic Solutions is a leader in microbiology and infectious disease diagnostics, including molecular diagnostics, cervical cancer screening, microbiology automation, and point-of-care offerings. For calendar year 2025, BD's Biosciences & Diagnostic Solutions business was expected to generate revenue of approximately US$3.4 billion.

The Clifford Chance team responsible for the spin-off was centrally led by a Clifford Chance Germany team and involved almost 20 Clifford Chance offices around the globe.

The Clifford Chance team for BD is led by partner Simon Schmid and comprised partner Christoph Holstein, senior associates Ribana Piontek and Varinia Keßler, associate Tobias Jenne (all Corporate/M&A), partner Sebastian Ritz, senior associate Alexander Stemmler, associate Max Klein (all Employment), partners Gunnar Sachs and Torsten Syrbe, senior associate Annabel Joschko and associate Pia-Sophie Weber (all Healthcare/Regulatory; all Düsseldorf), partner Philipp Stoecker and senior associate Ahmad Zaheri (both Real Estate), partner Holger Lutz and senior associate Michael Kümmel (both Commercial Contracts, all Frankfurt). From the firm's New York office partner Ben Sibbett advised with associates Stephanie Kilmer, Vicki Ye and Michelle Green (all Corporate/M&A) on the US separation work.

In addition, lawyers from Clifford Chance offices in Amsterdam, Barcelona, Brussels, Hong Kong, Istanbul, London, Milan, New York, Paris, Prague, Riyadh, Shanghai, Singapore, Sydney, Tokyo and Warsaw advised on the matter.

Clifford Chance names Alexandra Wilde as Houston Office Managing Partner amid continued US growth

Tue, 10 Mar 2026 18:15:00 GMT

Wilde, who joined the firm as a partner in the Corporate M&A practice in 2023, advises private equity and strategic investors in M&A, divestitures, minority and majority investments, joint ventures and other corporate matters. She also has deep experience in the energy, infrastructure and industrial sectors, including energy transition (such as solar, wind, battery storage, biofuels, clean tech and other clean and renewable energy), traditional upstream/midstream/downstream oil and gas, transportation and logistics, manufacturing, defense, aerospace and specialty chemicals.

"Alex is the right leader for our Houston office at an important moment in Clifford Chance’s growth in the US," said Regional Managing Partner for the Americas Sharis Pozen. "Houston is a critical market for our clients and for the firm, particularly across energy, infrastructure, private capital and complex cross-border matters. Alex brings outstanding judgment, strong client relationships and a deep understanding of the sectors driving demand in this dynamic market, and I am confident she will help lead the next phase of our growth across the US region."

Wilde said, "I am honored to take on this role at such an exciting time for our Houston office. Since opening in 2023, we have built a strong platform in a market that is central to our clients and to many of the firm’s global priorities. I look forward to working with our outstanding team in Houston and across the firm to continue building our presence and supporting clients across this important business hub."

Since opening in 2023 to expand the firm's global Energy & Infrastructure practice, Clifford Chance's Houston office has grown to more than 40 attorneys, and continued growth is underway. The office advises clients on energy, infrastructure, environmental transactions, regulatory, tax, M&A, private capital, technology and Latin American matters.

Clifford Chance advises Zelestra on a USD 176 million green financing for the Babilonia solar project in Peru

Tue, 10 Mar 2026 12:01:34 GMT

The Babilonia project strengthens Zelestra’s track record in the country and will become part of the La Joya solar complex in Arequipa, which will reach an installed capacity of nearly 700 MW. This complex includes the San Martín plant (300 MW, currently in operation) and the San Joaquín project (125 MW, at an advanced stage of development).

Clifford Chance’s legal advice involved a team from the Global Financial Markets practice, bringing together professionals from several offices.

From Madrid, the matter was led by partner José Guardo, supported by counsel Eduardo Sánchez, senior associate Ángel Muñoz, and junior associates Yago López and Asier Vivanco.

From Washington D.C., the team included partner Fabricio Longhin and associate Douglas Mulliken; and from New York, associate Mariana Gutiérrez Ruiz.

This transaction strengthens Clifford Chance’s position as a leading firm in renewable energy project finance and further reinforces its experience in the development of next‑generation energy infrastructure globally.