Global law firm Ashurst has advised Equitix and Goldman Sachs in separate roles in relation to KKR’s proposed £2bn takeover of John Laing Group plc.
An Ashurst team, led by global head of corporate Jason Radford, advised longstanding client Equitix in relation to their proposed acquisition of a 50% equity stake in the portfolio of assets owned by the John Laing Group. Equitix will be contributing to the acquisition price paid by KKR to John Laing shareholders and will, as a result, receive a 50% shareholding in John Laing Investment Limited, which holds the existing assets of the John Laing Group, following completion. Jason was supported by senior associate Hayley Gow and associate Yoana Georgieva.
Ashurst advised Equitix on the formation of a new Equitix managed fund as well as in relation to two of its flagship funds which will invest in the transaction. This team was led by investment funds partner Nick Goddard with support from partner Catherine Gokah, senior associates Peter Mallon and Meela Kwok and associates Katie Gingell and Emma Turner. In addition, Equitix will be sourcing funding pursuant to an interim facilities agreement.
A separate Ashurst team led by corporate partner Tom Mercer also advised Goldman Sachs, who is acting as financial adviser to KKR in connection with the takeover, in relation to its cash confirmation responsibilities pursuant to the Takeover Code. Tom was supported by partners Tim Rennie and Harry Thimont, senior associate Darren Phelan, and associates Lauren Garrett, Colin Bugler and Anxin Hua.
“I am delighted that Ashurst has been able to play multiple roles on this major transaction advising priority clients Equitix on their investment and Goldman Sachs as financial adviser, drawing on integrated teams from our public M&A, infra M&A and funds specialists,” Jason Radford said. “This reflects core strengths of our business, areas where we continue to invest in building first class capabilities to assist our key clients with the largest and most complex transactions.”