Links leads way as GdF-Suez saga nears end
Linklaters has joined French firms Bredin Prat and Darrois Villey Maillot Brochier among the beneficiaries of the protracted €70bn (£47bn) merger saga involving Gas de France (GdF) and Suez, which was finally approved yesterday (3 September). Bredin Prat, the French ally of Slaughter and May, advised Suez alongside City giant Linklaters, while Darrois Villey acted for GdF on a deal that was originally announced in February 2006.
September 04, 2007 at 07:50 AM
2 minute read
Linklaters has joined French firms Bredin Prat and Darrois Villey Maillot Brochier among the beneficiaries of the protracted €70bn (£47bn) merger saga involving Gas de France (GdF) and Suez, which was finally approved yesterday (3 September).
Bredin Prat, the French ally of Slaughter and May, advised Suez alongside City giant Linklaters, while Darrois Villey acted for GdF on a deal that was originally announced in February 2006.
The merger is now expected to complete in the first half of 2008.
Bredin Prat corporate partner Patrick Dziewolski and Linklaters corporate partner Marc Loy led the teams for their respective firms.
French heavyweight Gide Loyrette Nouel also picked up a role on the deal, advising the French State, which will be a minority share holder of the newly-merged company, while New York firms Debevoise & Plimpton and Davis Polk & Wardwell advised on US aspects.
The deal is one of a number of mega-mergers in the European energy sector to run into political difficulties and antitrust issues over the last 18 months.
Other notable deals that have seen law firms trouser millions in fees include the ongoing battle for Spanish energy giant and Clifford Chance client Endesa.
Recent developments include Enel – Italy's largest power company – in April instructing US law firm Latham & Watkins to advise on its €35bn (£23.8bn) joint offer with Acciona for a 46% stake in Endesa.
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