Clifford Chance

Clifford Chance advises Infracapital on 50 percent stake sale of Last Mile Infrastructure Group

Global law firm Clifford Chance has advised Infracapital, the infrastructure equity investment arm of M&G Plc on the sale of a 50 percent stake in Last Mile Infrastructure Group (Last Mile) to Macquarie Asset Management via Macquarie European Infrastructure Fund 7. Infracapital will retain a 50 percent stake in the group.

Last Mile is one of the UK’s largest Independent Network Owners. The business designs, installs, owns and operates last mile electricity, gas, water and wastewater networks as well as providing smart meters to new build properties across the UK. It owns and manages approximately 670,000 electricity and gas connections, linking distribution networks to residential and commercial customers. The business is also developing an order book of circa 725,000 electricity, gas, water and waste-water connections.

The transaction is subject to certain antitrust and regulatory conditions.

The Clifford Chance team was led by Spencer Baylin (Partner), Martin Kolmar (Director of Private Equity), Georgia Demeure (Senior Associate) and Sarah Bowe and Isabelle Cameron (Associates).