Richard Johnson

Freshfields Bruckhaus Deringer (“Freshfields”) is advising Equans, a subsidiary of the Bouygues group, on the proposed sale of its district heating and cooling networks in the UK to a consortium formed by Swiss Life Asset Managers and Schroders Greencoat. The portfolio includes district heating and cooling concessions often known as Equans Urban Energy, and includes East London Energy Limited and Equans DE Holding Company Limited. Humber Energy will also be included in the transaction. Completion of the transaction is expected in the last quarter of 2023, subject to relevant approvals. The Freshfields team is being led by partners Richard Johnson, Olivier Rogivue and Graham Watson, together with partners Giles Pratt on separation matters; David Haworth and Peter Clements on tax matters; Rikki Haria on merger control and foreign investment matters; and David Mendel on employment, benefits and pensions matters.

Sep 18

1 min

Freshfields Bruckhaus Deringer (“Freshfields”) is advising Ontario Teachers’ Pension Plan Board (“Ontario Teachers’”) on its agreement to acquire a majority stake in Seven Investment Management (“7IM”), a leading UK wealth manager, from Caledonia Investments plc. 7IM is a client centric, technology-driven wealth and investment manager that manages approximately £21 billion of assets on behalf of more than 2,300 financial advisory firms and 7,000 private clients across the UK. Founded in 2002, 7IM is headquartered in London and Edinburgh, and has more than 500 colleagues across the UK. The transaction is subject to customary closing conditions and regulatory approval. The Freshfields team is being led by partners Patrick Ko and Richard Johnson, together with partners Emma Rachmaninov on financial services regulatory matters; Toby Bingley, Chris Davis, Aled Batey and Richard Hart on financing; Rachael Annear and Giles Pratt on IP/IT matters; Helen Buchanan on tax matters; and David Mendel on employment matters.

Sep 5

1 min

Freshfields is advising PSP Investments in relation to its sale of a 10 per cent. stake in Angel Trains to Arjun Infrastructure Partners (Arjun) through an Arjun managed investment vehicle. PSP Investments, one of Canada’s largest pension investors with an infrastructure portfolio of C$29.4 billion in net assets under management, will remain the majority shareholder in Angel Trains with a stake of 64.25%.  Angel Trains is the largest rolling stock company in the UK, serving the passenger rail sector with a diversified fleet of circa 4,400 vehicles, the majority of which are electric multiple units. The Freshfields team is being led by partner Richard Johnson, senior associate George Milne and associate Alex Shoferpoor, and also includes partners Richard Thexton, Helen Buchanan, Deirdre Trapp, Jenny McIvor, Andrew Murphy and James Smethurst.

Jul 4

1 min

Freshfields Bruckhaus Deringer ('Freshfields') is advising Keppel Corporation Limited ('Keppel') on its agreement with Aermont Capital SCSp to acquire leading European real estate manager, Aermont Capital ('Aermont'). Established in 2007, Aermont is an independent asset management business focused on real estate and real estate-related investment activities in Europe, and in 2023 was ranked by PERE as the highest among Europe-based real estate firms in terms of funds raised in the last five years.  Its assets under management include the world-renowned Pinewood Studios in the UK. Keppel is a global asset manager and operator with strong expertise in sustainability-related solutions spanning the areas of infrastructure, real estate and connectivity. Headquartered and listed in Singapore, Keppel operates in more than 20 countries worldwide and has more than S$65 billion of assets under management. The transaction will take place in two phases, with Keppel initially acquiring a 50% stake in H1 2024 (subject to identified regulatory and other approvals) and the full acquisition expected in 2028, with consideration expected be funded through a combination of cash and Keppel shares. The Freshfields team is being led from London by Richard Johnson, together with Alastair Mordaunt on antitrust matters; James Smethurst on financial services regulatory matters; Keith Chapman on funds matters; Jill Gatehouse and Emily Szasz on tax matters; David Mendel on employment and pensions matters; Vikki Hills on real estate matters; and Giles Pratt on IP/IT matters.

Nov 30

1 min

Freshfields Bruckhaus Deringer (‘Freshfields’) is advising Ontario Teachers’ Pension Plan Board (“Ontario Teachers’”) on its agreement to sell its majority shareholding in Premier Lotteries Ireland DAC (“PLI”), the operator of the Irish National Lottery, to La Française de Jeux (“FDJ”), the largest French lottery gaming operator. As part of the transaction, PLI’s other shareholders, An Post and the An Post Pension Fund, will also sell their minority shareholdings in PLI to FDJ. PLI was awarded a 20-year licence by the Irish Government in November 2014, and under Ontario Teachers’ and An Post’s ownership has raised of €1.9 billion for Good Causes, with 2021 and 2022 being the most successful years in that regard. PLI’s core purpose is to operate a responsible world-class lottery for the people of Ireland, raising much needed Good Causes funding for the benefit of local communities throughout the country. FDJ and PLI have a long-standing partnership successfully operating the transnational EuroMillions lottery. The transaction is subject to customary closing conditions, including approval by the Irish Regulator of the National Lottery. The Freshfields team is being led by partners Richard Johnson and Patrick Ko and senior associate Christopher Yarrow, together with partner Helen Buchanan and senior associate Emily Szasz advising on tax matters, and partners Alex Potter and Deirdre Trapp advising on antitrust and foreign investment matters.

Jul 28

1 min