Linklaters and CC lead on $9.5bn GDF bid for International Power stake
Linklaters has taken a lead role for GDF Suez on its $9.5bn (£6bn) bid for the 30% of International Power (IPR) that it does not already own, reports The Am Law Daily. Linklaters M&A partners Iain Wagstaff in London and Marc Loy in Paris are advising GDF, after both led a team from the magic circle firm representing GDF when it acquired a majority stake in IPR in August 2010. That deal transformed GDF into the world's largest utility company.
March 30, 2012 at 12:19 PM
2 minute read
Linklaters has taken a lead role for GDF Suez on its $9.5bn (£6bn) bid for the 30% of International Power (IPR) that it does not already own, reports The Am Law Daily.
Linklaters M&A partners Iain Wagstaff (pictured) in London and Marc Loy in Paris are advising GDF, after both led a team from the magic circle firm representing GDF when it acquired a majority stake in IPR in August 2010. That deal transformed GDF into the world's largest utility company.
Clifford Chance (CC) is advising International Power, with a team led by a team led by partners David Pudge and Brendan Moylan in London. CC represented the company on the initial sale of a majority stake to GDF two years ago.
GDF named Sandra Lagumina as its in-house legal director last June. Lagumina is the former general counsel of Gaz de France, the French energy giant that merged with GDF in a $157.5bn (£99bn) deal in 2008 on which at least ten firms advised. Linklaters was one of several firms representing GDF on that transaction.
Earlier this year, GDF unveiled its first-ever global panel of preferred legal advisers, creating roles for Linklaters, Shearman & Sterling and French firm Bredin Prat.
GDF has said it believes that a full merger with IPR would simplify its structure and be attractive to IPR shareholders. IPR has not yet offered a public response to the latest offer by GDF.
The Am Law Daily is a US affiliate title of Legal Week.
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