Paul Hastings’ Infrastructure Team Completes Fifth Deal in Three Months
February 04, 2021
Paul Hastings, the global law firm, has today announced its Energy and Infrastructure practice has completed its fifth deal since November 2020. The team, led by Steven Bryan and Derwin Jenkinson, both partners in the practice at the firm’s London office, have now completed five deals for a range of global energy and infrastructure clients in the last three months.
Just last week, the firm announced it has advised COSCO SHIPPING Ports on its agreement to acquire a 20% minority interest in Red Sea Gateway Terminal Company Limited for a total consideration of US$140 million. This deal was led by Steven Bryan in conjunction with Raymond Li and Fang Pei, Partners in the Hong Kong office.
In December, Steven has also worked in conjunction with Jonathan Kellner, M&A partner at the firm’s São Paulo office, to advise EIG Global Energy Partners, a leading institutional investor to the global energy sector, on its agreement with Fluxys, the Belgian gas infrastructure group, for the sale of its interest in Transportadora Brasileira Gasduto Bolívia-Brasil S.A. (TBG).
In addition, Derwin was part of the team advising Cory Riverside Energy, one of the UK’s leading resource management, recycling, and energy recovery companies, on its additional Capex Facility, having previously advised on its acquisition refinancing in 2018. The transaction, completed in November, involved a consent process with the existing lender group and incremental long dated fixed rate and RPI-linked institutional facilities.
In December, Derwin and Steven advised Angel Trains, the UK's largest rolling stock lessor, on its corporate reorganisation. The firm also advised the company on £826,446,000 of loans and private placement notes including in relation to financing 665 Bombardier Class 720 vehicles.
Discussing the recent activity, Steven Bryan, said:
“The number of completed deals demonstrates the growing strength of the Energy and Infrastructure practice at the firm. The practice was enhanced by Derwin’s arrival in the London office in September last year, bringing with him many of his longstanding clients, including Angel Trains and Cory Riverside Energy.
The work we have achieved in the past few months is testament to the teams’ depth and breadth, especially in cross border infrastructure M&A and office collaboration and in infrastructure finance, and has been reflective of the teams’ truly collective mind-set.”
Arun Birla, Chair of Paul Hastings’ London office commented:
“The growth and success of the London-based Energy and Infrastructure practice has been reflective of the wider goals of the firm: providing the highest quality service regionally while collaborating with our colleagues globally to service our clients worldwide in the most innovative manner possible. Derwin has fortified the existing team at the firm, adding to its extensive experience and propelling the pace of activity in the last few months”.
At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognised as one of the world’s most innovative global law firms.