The British pension fund Lancashire County Pension Fund (LCPF) has acquired a 12.5% equity stake in Madrileña Red de Gas (MRG), one of the leading gas distribution companies in Spain.

The transaction also included negotiating and entering into a partnership and shareholders agreement for joint development and the expansion of MRG’s gas business. LCPF joins as a partner and a main shareholder in the gas company, formed by EDF Invest, Gingko Tree Investment Ltd. and the Dutch pensions fund PGGM.

Cuatrecasas, Gonçalves Pereira advised LCPF on all the legal aspects of the acquisition and the investment agreements through the collaboration of the Corporate and Commercial, Mergers and Acquisitions, Regulatory Law, Financial  and Taxation Practices. The legal team comprised partners Federico Roig and Luis Pérez de Ayala, partner Rebeca Rodríguez and associates Pedro López-Dóriga, Guillermo Ruiz, and Marta López.