Kirkland & Ellis counseled Guardian Capital Group Limited (Guardian) (TSX:GCG) (TSX:GCG.A) in connection with Guardian Smart Infrastructure Management’s (GSIM) initial infrastructure investment whereby Juniper Holdco AS (Juniper), a company 70% owned by a subsidiary of Guardian, and 30% owned by Rieber & Son, a Bergen-based privately held investment firm (Rieber), has entered into a conditional agreement to acquire Rieber’s 62.8% shareholding in Q-Free ASA at a price of Norwegian Krone 12.00 per share. Following this acquisition, Juniper will make an offer (also at a price of Norwegian Krone 12.00 per share) to the remaining shareholders of Q-Free to purchase all outstanding shares, as specified in Chapter 6 of the Norwegian Securities Act. Q-Free ASA (OSE: QFR) is a global innovator in intelligent transportation systems, which improve traffic flow, road safety and air quality.
GSIM is Guardian’s private infrastructure investment management subsidiary. Funding for the initial investment and proposed follow-on investments was provided by Guardian and the GSIM management team for a total initial commitment of US$100 million.
The Kirkland team was led by corporate partners Jennifer Gasser, John Kaercher, Aprajita Dhundia and Cory Baird and associates Peter Hyams, Haley Steinman and Sher Lin Wong; and investment funds partners Kelly Ryan and Ryan McNish and associates Stacia Lee and Zach Van Kovering.