First State Investments buys Coriance

First State Investments is buying Coriance, a portfolio company of KKR. Financial terms weren’t announced. Coriance operates a portfolio of 29 regulated district heating concessions in France, under which it supplies heat to residential, social and commercial buildings, and sells cogenerated electricity to state-owned utility EDF. RBC Capital Markets acted as financial adviser to KKR on this transaction. KKR's other advisers included Clifford Chance, Simpson Thacher & Bartlett, KPMG, Poyry and Marsh. Lazard Frères and DC Advisory advised First State Investments. First State Investments' other advisers included Deloitte, Allen & Overy, Watson Farley & Williams, Atkins, E-Cube and Willis Towers Watson.

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