Sorainen Latvia and Herbert Smith Freehills have advised MM Capital Infrastructure Fund I, a Marubeni-backed fund, on the acquisition of a 29.06% interest in JSC Conexus Baltic Grid, a unified natural gas transmission and storage operator in Latvia, from Marguerite Gas I. Marguerite was advised by CMS London and Cobalt on the transaction, which remains subject to regulatory approval.
According to Sorainen, “MM Capital Infrastructure Fund 1, is managed by MM Capital Partners, which was formed in 2018 by Marubeni Corporation, Mizuho Bank, and Asset Management One, for the purpose of operating and managing funds specialized in equity investments in infrastructure assets.”
The Marubeni Corporation is a Japanese trading and investment company.
Sorainen's Latvian team consisted of Country Managing Partner Eva Berlaus, Counsel Andris Burkevics, Senior Associates Renate Purvinska and Zanda Frisfelde, and Associates Andris Vilisons and Zane Akermane.
The Herbert Smith Freehills team in London was led by Partner Lewis McDonald and Senior Associate Eliza Eaton.
The CMS team was led by London-based Partner Charles Currier.
Cobalt's team included Latvian Partner Guntars Zile and Senior Associates Martins Tarlaps and Elina Locmele.
