Électricité de France announced on Monday that it would sell its stake in Karlsruhe, Germany-based EnBW Energie Baden-Württemberg for $6.2 billion in order to cut its debt, Bloomberg reports. EnBW supplies electrical power to the German state and markets throughout Central Europe.
Cleary Gottlieb Steen & Hamilton M&A partner Pierre-Yves Chabert in Paris and antitrust partner Stephan Barthelmess and M&A counsel Klaus Banke in Frankfurt advised EDF on the transaction. The firm has previously advised the Paris-based EDF–on the sale of an 80 percent stake in a Brazilian electricity distributor and an electricity swap with top German power company E.ON.
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