Lawyers at Linklaters and Clifford Chance played leading roles in the mammoth European energy deal announced Tuesday under which Franco-Belgian GDF Suez SA will take control of Britain’s International Power PLC. The agreement will transform GDF Suez into the world’s largest utility, according to Reuters.

Under the deal, GDF Suez will receive a 70 percent stake in London-based International Power in exchange for turning over its non-European power generation business, as well as assets in the United Kingdom and Turkey. Additionally, International Power’s shareholders, who retain a 30 percent stake in the new company, will receive a special $2.2 billion dividend as part of the transaction. International Power will remain listed on the London Stock Exchange.

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