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RBC Capital Markets helps open up grid network deal

The Canadian bank's willingness to provide access to its balance sheet helped it win a €3bn-plus advisory mandate in the utilities sector alongside lead adviser Macquarie Capital

RBC Capital Markets has moved into the top 15 for European mergers and acquisitions, after landing a role alongside lead adviser Macquarie Capital in a €3.2bn deal by a consortium of investors - including units of the Abu Dhabi Investment Authority and Munich Re - for a gas company owned by E.ON.

E.ON announced this week that it had sold Open Grid Network to a consortium including British Columbia Investment Management, and units of Australian infrastructure specialist Macquarie, German reinsurance company Munich Re, and the ADIA.

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