Linklaters and Clifford Chance lead huge energy deal
Linklaters and Clifford Chance have taken leading roles in the deal for the acquisition of a 70 per cent stake in British company International Power PLC by Franco-Belgian GDF Suez SA.
GDF Suez will pay for the acquisition by handing over its non-European power generation business, as well as assets in the UK and Turkey. The terms of the deal also provide that GDF Suez will pay International Power’s shareholders a special $2.2 billion dividend.
Clifford Chance advised International Power with a team led by London-based corporate partners David Pudge, Bredan Moylan, and Kathy Honeywood. The team also included London-based banking partner Andrew Grenville and corporate associates Nick Hughes and Melissa Fogarty.
Linklaters advised GDF Suez with a team that included Paris-based corporate partner Marc Loy, London-based partners Matthew Middleditch and Iain Wagstaff, and New York partner Thomas McGrath.