Freshfields advises Esken on an investment by Carlyle into London Southend Airport
Freshfields Bruckhaus Deringer (‘Freshfields’) is advising Esken Limited (‘Esken’), the London listed aviation and energy infrastructure group formerly known as Stobart Group Limited, on the proposed investment by Carlyle Global Infrastructure Opportunity Fund (‘Carlyle’) into London Southend Airport (‘LSA’).
The investment is structured as a £125 million senior loan facility, convertible into 29.9% of the entire issued share capital of LSA. As the transaction constitutes a class 1 transaction for the purposes of the UK’s Listing Rules, completion is conditional on (among other things) shareholder approval.
Esken has also announced its intention to launch a documented equity raise and to conclude discussions on a new working capital facility, on which Freshfields is also advising.
The Freshfields team is being led by partners Marcus Mackenzie, Richard Johnson and Rhys Evans and associates Nikita Kumar and Wesley Tan.