Linklaters and Herbert Smith have advised on Centrica's renegotiated purchase of a 20% stake in British Energy from EDF. Last September Centrica agreed to pay French energy giant EDF £3.05bn for a 25% stake in British Energy, but after shareholder pressure not to overpay in the wake of a fall in electricity prices, Centrica will now pay £2.3bn for 20%. Linklaters was instructed by long-term client Centrica, fielding a team headed up by corporate partner Owen Clay and projects partner Fiona Hobbs, working closely with Centrica's in-house team, which is led by general counsel Grant Dawson. EDF turned to regular adviser Herbert Smith.
May 11, 2009 at 09:02 AM
1 minute read
The original version of this story was published on Legalweek
Linklaters and Herbert Smith have advised on Centrica’s renegotiated purchase of a 20% stake in British Energy from EDF.
Last September Centrica agreed to pay French energy giant EDF £3.05bn for a 25% stake in British Energy, but after shareholder pressure not to overpay in the wake of a fall in electricity prices, Centrica has now agreed to pay £2.3bn for a 20% stake.
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