Eight Advisory assisted Equans with the planned sale of its heating and cooling networks to a consortium formed by Swiss Life Asset Managers and Schroders Greencoat

The Eight Advisory team carried out financial and tax vendor due diligence services on behalf of Equans, a subsidiary of the Bouygues group, on the proposed sale of its district heating and cooling networks in the UK (Equans Urban Energy) to a consortium formed by Swiss Life Asset Managers and Schroders Greencoat.

Equans Urban Energy, is a portfolio of district heating and cooling assets, including East London Energy Limited and Equans DE Holding Company Limited. Humber Energy will also be included in the transaction.

The deal is expected to close in the last quarter of 2023.

The team in charge of financial due diligence was composed of Lionnel Gerard, Amen Sangha, Anurang Hariharan and Sebastian Head.

The carve-out team included Nick Neil-Boss, Samuel Chandrasekaran and Michael Forrest.

The tax team consisted of Dean Lake, Michael Hackley and Ross Cornick.