Baker McKenzie has advised CDP Foundation (CDP Worldwide, CDP North America and CDP Japan), which operates a leading global environmental disclosure system, on its transformative investment and strategic reorganisation involving global investment firm Permira.
CDP announced today that it will be transforming into two separate organisations: CDP, a commercial entity backed by global investment firm Permira, which will continue to provide environmental data and disclosure services to companies worldwide; and the CDP Foundation charitable/not-for-profit entities that will drive the strategic principles for disclosure based on the latest environmental science.
CDP Worldwide will remain a shareholder in CDP with board representation, with CDP Foundation leading on translating frontier science into action-ready disclosure methods, informing the evolution of CDP’s question bank. CDP will focus on deploying the world’s most comprehensive disclosure system, surfacing Earth-positive information to drive tomorrow’s economy. Completion of the transaction is subject to receiving regulatory approvals, including from the Charity Commission.
Baker McKenzie advised on all aspects of the transaction relating to: Corporate M&A, Tax, Intellectual Property, Corporate Reorganisations, Overseas Charity/Not-For-Profit, Employment, Competition and Banking & Finance. Bates Wells advised on the English charity law aspects of the transaction.
The cross-border Baker McKenzie team was led by Corporate Partner, Nick Bryans and Tax Partner, Natalie Dunne (both London), with support from IP Partner, Natalie Ellerby (London) and Corporate Reorganisations Partners Jo Hewitt (London) and Jonathan Yeo (New York).
