Paul is a Partner in the M&A & Private Equity group in London. He focuses his practice on domestic and cross-border mergers and acquisitions, joint ventures and private equity transactions, particularly in the energy, infrastructure and technology sectors.

He has represented financial sponsors, multinational corporations and financial institutions on a broad range of cross-border transactions, including The Riverside Company, Solar 21, Macquarie Capital, First State Investments, Vortex, Diverxia Infraestructuras, Yushan Energy, Vattenfall, PGGM, Ørsted Energy, Copenhagen Infrastructure Partners, The Ingenious Group, BTG Pactual, Apax Partners Worldwide, Doughty Hanson, Och-Ziff Capital Management Group, Fortress Investment Group, Colony Capital, Accelero Capital Holdings, Barclays Private Equity, One Equity Partners, RREEF Alternative Investments, Warburg Pincus and TPG Capital.

He has practised English corporate law in London, Madrid, Frankfurt and Paris and advised on transactions throughout Western, Central and Eastern Europe, particularly in the UK and Spain, and also in Latin America, India, Russia, the Middle East and Asia. Fluent in Spanish and with strong transactional experience in Spain, he plays a significant role in developing our Spanish and Latin American practices.

  • Autopista del Guadalmedina, Concesionaria Española, S.A., the concessionaire company for the AP-46 Autopista de las Pedrizas, which forms part of the main Malaga to Madrid highway, on all English law aspects of the €229m bond refinancing of its existing debt.

    The Riverside Company on its acquisition, through GEV Group (an international distributor of commercial kitchen equipment parts), of Commercial Catering Spares Limited (a leading supplier of commercial catering equipment parts in the UK).

    Yushan Energy on its joint venture to develop and finance the US$2.86bn 700 MW Hai Long offshore wind project in the Taiwan Strait, 50km from the Changhua coast, Taiwan.

    Vortex, the European renewables platform managed by EFG Hermes' private equity arm, on its acquisition of a 365 MW UK solar PV portfolio from TerraForm Power.  Comprising 24 operational assets, the portfolio is one of the largest in the UK.

    First State Investments on its acquisition of French district heating business, Coriance, from KKR and a co-investor. Coriance operates a portfolio of 29 regulated district heating concessions in France, under which it supplies heat to residential, social and commercial buildings and sells cogenerated electricity to state-owned utility, EDF Group.  It also provides energy services in the heating sector.

    Ørsted Energy on its sale of a 50% stake in the 258 MW Burbo Bank Extension UK offshore wind farm project to Danish pension provider PKA and KIRKBI A/S, the parent company of the LEGO Group.

    A syndicate of 10 lenders led by Banco Santander on the €528m financial restructuring of Olivento, Spain’s largest onshore wind portfolio with a total capacity of 422 MW.

    PGGM on its acquisition of a significant interest in the 288 MW offshore wind farm, Baltic 2, located in the German Baltic Sea. PGGM invested in Baltic 2 through its PGGM Infrastructure Fund 2014 and as the lead investor in an international consortium.

    Vattenfall on its:

    • disposal of a 49% stake in the 150 MW Ormonde offshore wind farm in England to Swedish pension group, AMF, for £237m (circa SEK3bn); and
    • joint venture with ScottishPower Renewables relating to East Anglia Offshore Wind.

    BTG Pactual on its:

    • CHF 1.5bn acquisition of the entire share capital of BSI, the Swiss-based private banking unit owned by Assicurazioni Generali S.p.A;
    • acquisition of Ariel Reinsurance, the Bermuda-based property and casualty reinsurance company, from Global Atlantic;
    • successful €1bn bid, as part of an international consortium, for the 50-year concession to manage, operate and maintain Aigües Ter Llobregat, the Catalonian water utility (the largest privatisation effected in the region of Catalonia to date); and
    • successful €430m bid, together with abertis Infraestructuras, to acquire the concessionaire company, Túnels de Barcelona I Cadi Concessionària de la Generalitat de Catalunya.

    Apax Partners Worldwide LLP on its investment in Ceuta Healthcare.

    Pfizer Inc. on its proposed US$118bn acquisition of AstraZeneca Plc.

    The Vitol Group on the establishment of Varo Energy, a 50:50 joint venture with The Carlyle Group, to create a midstream energy group across northwest Europe, and the sale of Vitol’s German tank storage and wholesale distribution businesses to Varo Energy.

    Mylan Laboratories Inc. on its US$1.6bn acquisition of the Agila injectables businesses from Indian pharmaceutical company, Strides Arcolab Ltd.

    Nokia Corporation on its €5.44bn sale of substantially all of its devices and services business and license of its patents to Microsoft.

    Revlon on its US$660m acquisition of The Colomer Group from CVC Capital Partners and other private investors.

    Rain CII Carbon LLC, a subsidiary of Rain Commodities Ltd, in its US$914m acquisition of RUTGERS, a manufacturer of specialty chemicals, from funds advised by Triton Partners.

    Doughty Hanson on the:

    • US$389m initial public offering of Tumi Holdings Inc., a manufacturer of upscale luggage and travel accessories, on the New York Stock Exchange and subsequent secondary offerings;
    • US$1.1bn sale, along with Euroland Investments B.V., of Norit N.V., a manufacturer of carbon-based products, to Cabot Corporation, a specialty chemicals company (August 2012); and
    • acquisition of a substantial interest in Grupo Hospitalario Quirón, one of Spain’s largest private hospital groups.

    Gas Natural on English law matters relating to its merger with Unión Fenosa and Unión Fenosa Generación to create one of Europe’s largest integrated gas and electricity utilities.

    Suez Environnement on its €666m acquisition of a 24.5% interest in Aguas de Barcelona from Criteria CaixaCorp.

Insights

News