Freshfields advises TotalEnergies on all-stock acquisition of 50% of EPH 14+ GW flexible power generation portfolio with €10.6 billion JV enterprise value

"Freshfields advised TotalEnergies SE on its proposed all-stock acquisition of 50% of EPH's flexible power generation platform (over 14 GW) across Italy, UK & Ireland, the Netherlands and France, forming a JV with enterprise value €10.6bn. The deal is subject to employee consultation and regulatory approvals; completion is expected mid-2026."

Freshfields advised TotalEnergies SE on its proposed all-stock acquisition of 50% of the flexible power generation platform of Energetický a průmyslový holding, a.s. (EPH). The transaction concerns a portfolio of more than 14 GW of flexible generation in operation or under construction, comprising gas-fired and biomass power plants and batteries located in Italy, the United Kingdom and Ireland, the Netherlands and France. The parties envisage a joint venture with a combined enterprise value of €10.6 billion. The transaction remains subject to the legal information and consultation process with the relevant employee representatives and to approval by the competent authorities. Completion is expected mid-2026. Freshfields advised TotalEnergies SE with a team composed by: partners Graham Watson, Richard Thexton and Hervé Pisani (team leads), alongside partners Doug Bryden, Peter Clements, Alastair Mordaunt and Gwen Senlanne; counsel Aïleen Legre; and senior associates Tara Gazzard and Toby Halford. The multi-jurisdictional team brought energy and real assets M&A expertise, including significant French M&A capability.

Freshfields advises TotalEnergies on all-stock acquisition of 50% of EPH 14+ GW flexible power generation portfolio with €10.6 billion JV enterprise value

Read the full story

Cookie Preferences

Strictly Necessary

Analytics & Statistics

Marketing & Ads