Clifford Chance has landed the mandate to advise the Macquarie-led consortium on its £2.58 billion bid for the UK’s biggest port operator Associated British Ports.
A team led by London corporate partner Ian Bagshaw is advising the bidding group, which also incudes 3i, Canada Pension Plan Investment Board and Canada Pension Mangement.
Bagshaw, who last year advised Macquarie on its £1.2bn acquisition of the Yellow Brick Road Group, is being supported by partners Adam Signy on corporate and Michael Bates on the financing.
Macquarie is currently going head-to-head in a bidding war with a Goldman Sachs-led consortium, which also includes Borealis Infrastructure Management and GIC Special Investments.
Goldman Sachs is being advised by Freshfields corporate partners Edward Braham and David Higgins.
Associated British Ports is using regular external counsel Slaughter and May, whose team is being led by corporate partner Richard de Carle.
Last week Goldman Sachs, advised by Ashurst, lost the battle to take control of airport operator BAA, advised by Freshfields.