Global law firm White & Case LLP has advised Macquarie Asset Management (MAM) on the acquisition of a 49 percent interest in Hellenic Electricity Distribution Network Operator (HEDNO).
HEDNO is a Greek listed utility, majority owned by the Greek State, which operates 240,000km of medium and low voltage power lines across Greece serving 7.6 million customers. Following an international public tender process launched by Public Power Corporation S.A., MAM was declared the preferred bidder with an offer which represents an enterprise value for the 49 percent interest in HEDNO of €2.116 billion (including assumed debt of €804 million), making this landmark transaction one of the largest privatizations to have ever taken place in Greece.
The White & Case team in London which advised on the transaction was led by partner Tim Sheddick and included partners Simon Caridia and Marc Israel and counsel Tom Pound, with support from associates James Charteris-Black, Anna Rawlence, Asad Khan and Luc Rosenberg.
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