Clifford Chance has advised CK Infrastructure Holdings Limited (CKI) on a joint venture with Cheung Kong Property Holdings Limited and on the joint venture's acquisition of 100 % of ista International GmbH from CVC Capital Partners Fund V. The transaction is subject to customary regulatory and antitrust approvals and is expected to be closed in the fourth quarter of 2017.
ista group is one of the world's leading companies in the provision of energy management services for greater energy efficiency in buildings. ista employs a portfolio of modern hardware devices for energy data management including radio-based heat cost allocators, heat meters and water meters as well as the relevant communication systems. Moreover, ista contributes towards resident safety with radio-based smoke alarm devices and drinking water analyses. The company employs more than 5,400 people and provides energy services for more than twelve million apartments and commercial properties in 24 countries around the world. The group recorded sales of EUR 850.4 million in 2016.
CKI is a global infrastructure company that has diversified investments in energy infrastructure, transportation infrastructure, water infrastructure, waste management, waste-to-energy and infrastructure related businesses. CKI's investments and operations span Hong Kong, Mainland China, the United Kingdom, the Netherlands, Portugal, Australia, New Zealand and Canada.
The Clifford Chance team was led by partners Markus Muhs (Munich) and Dr. Anselm Raddatz (Düsseldorf, both Corporate/Private Equity) and comprised partner Frederik Mühl (Frankfurt), counsel Dr. Werner Brickwedde (Düsseldorf) and transaction lawyer Caroline Lutz (Munich, all Corporate/Private Equity), partner Marc Besen (Brussels/Düsseldorf), counsel Dr. Dimitri Slobodenjuk, senior associate Dr. Florian Wiesner and associate Caroline Slusarek (all Düsseldorf) – all Antitrust, senior associate Regina Freckmann, associates Sebastian Lahner, Amelie Krause (all Munich) and Katharina Franitza (Düsseldorf, all Corporate/Private Equity), associates David Schwenneker (Munich) and Thorben Lührmann (Düsseldorf, both Corporate/M&A), partner Dr. Björn Heinlein, counsel Dr. Martin Weitenberg, associates Zaid Mansour and Dr. Philipp Büsch (all Energy & Infrastructure, Düsseldorf), partner Dr. Christian Keilich and senior associate Amrei Fuder (both Real Estate, Frankfurt), counsel Dr. Philipp Schäuble (Corporate/Employment, Düsseldorf), partner Tim Schreiber, senior associate Dr. Alexander Weiss (both Munich), counsel Dr. Alexander Cappel and associate Gerson Raiser (both Frankfurt, all Litigation & Dispute Resolution) as well as partner Dr. Claudia Milbradt, senior associates Diana Baer (both Düsseldorf) and Dr. Alexandra Diehl (Frankfurt, both IP). Lawyers in Clifford Chance's offices in Hong Kong, Luxembourg, Paris and Moscow also advised on the transaction.
A team led by partner Emma Folds advised on the debt financing of the transaction and included senior associate Komal Raina Desaraju (both Finance, London), partner Dr. Florian Mahler, senior associate Bahar Rahimyar (both Düsseldorf) and associate Alexander Lang (Munich, all Banking & Capital Markets) as well as partner Fabio Diminich and counsel Andrew Kelly (both Capital Markets, London).
