ATLAS Infrastructure Fuels €850 Million Investment in Elia Group
Deal News | Mar 21, 2025 | White & Case
White & Case LLP, a global law firm, has advised ATLAS Infrastructure on a significant €850 million private investment in public equity (PIPE) transaction with Elia Group, one of Europe's leading electricity transmission operators. ATLAS Infrastructure spearheaded this investment by contributing €234.6 million and teamed with other major investors including BlackRock, the Canada Pension Plan Investment Board, and Elia Group's primary shareholder, Publi-T/NextGrid Holding. This PIPE investment forms a part of a larger fundraising strategy intended to amass approximately €2.2 billion, featuring an additional rights issue slated for completion post-PIPE closure. The White & Case team involved in the transaction was composed of partners Tom Matthews and Sonica Tolani from London, counsel Bree Peterson (London), and local partner Willem Van de Wiele (Brussels & Luxembourg).
Sectors
- Infrastructure Investment
- Energy Transmission
- Legal Services
Geography
- Europe – Elia Group is one of the top electricity transmission operators in Europe, implicating European significance.
- United Kingdom – UK-based White & Case partners were involved in advising, indicating activity in the UK legal market.
- Canada – The Canada Pension Plan Investment Board participated in the PIPE transaction, bringing Canadian involvement to the deal.
Industry
- Infrastructure Investment – The article involves ATLAS Infrastructure, which specializes in infrastructure investments, indicating the industry's relevance.
- Energy Transmission – Elia Group operates as a major electricity transmission system operator in Europe, making it part of the energy transmission sector.
- Legal Services – White & Case provided legal advisory services for the deal, highlighting the involvement of the legal industry.
Financials
- €850 million – Total amount of the PIPE transaction with Elia Group.
- €234.6 million – Amount subscribed by ATLAS Infrastructure in the PIPE transaction.
- €2.2 billion – Targeted total fundraising amount including the PIPE and rights issue.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Elia Group | Target Company | Company | A major electricity transmission system operator in Europe involved in the PIPE transaction. |
| ATLAS Infrastructure | Investor | Company | Specialist infrastructure investor that led the €850 million PIPE transaction. |
| White & Case LLP | Legal Advisor | Company | Provided legal advisory to ATLAS Infrastructure for the PIPE transaction. |
| BlackRock | Investor | Company | Participated as a co-investor in the PIPE transaction with Elia Group. |
| Canada Pension Plan Investment Board | Investor | Company | One of the investors in the Elia Group's PIPE transaction. |
| Publi-T/NextGrid Holding | Investor | Company | Elia Group's reference shareholder involved in the PIPE transaction. |