26 November 2007 – LAWFUEL – International Legal & Business News – International law firm Freshfields Bruckhaus Deringer is advising the Saltaire Water consortium on its recommended cash offer for Kelda Group plc, the owner of Yorkshire Water. The offer values Kelda at approximately £3bn. Saltaire Water is a newly incorporated company formed at the direction of Citi Infrastructure Investors (a unit of Citigroup Alternative Investments), GIC Special Investments, Infracapital Partners and HSBC Bank for the purpose of making this offer.
Yorkshire Water provides water and wastewater services to more than 4.7 million people and 140,000 businesses. The acquisition is expected to close by mid February 2008.
The Freshfields team was led by corporate partners Martin Nelson-Jones and Farah Ispahani, working with senior associates Piers Prichard Jones, Penny MacRae and Damien Hill. Partners Peter Hall and Alex Potter led the finance team and the regulatory team, respectively.