May 23, 2012
European Commission approves EDF’s acquisition of Edison, and the French Antitrust Authority approves its acquisition of Photowatt.
The European Commission recently granted unconditionally approval for Willkie client EDF’s acquisition of sole control over Edison, the second largest energy operator in Italy. Since 2005, EDF has held joint control over Edison, along with A2A-controlled Delmi. As a result of the transaction, EDF will hold an 80.7% stake in Edison’s share capital. In April 2012, the Italian Antitrust Authority also approved A2A’s sole acquisition (via Delmi) of Edipower from Edison and Alpiq. The EDF/Edison matter was handled by partner Jacques-Philippe Gunther in Paris, national partner Charlotte Breuvart in Brussels, and associate Maxime de l’Estang.
In a separate transaction, the firm assisted EDF in obtaining unconditional approval from the French Antitrust Authority for the acquisition by EDF Energies Nouvelles Réparties (EDF ENR) of Photowatt International’s main assets. Photowatt International, which was adjudicated bankrupt on November 8, 2011, is active in the photovoltaic sector. EDF agreed to maintain or redeploy all Photowatt’s employees. As a result of the transaction, EDF ENR will exercise sole control over Photowatt’s main assets and PV Alliance, a research and development consortium, formerly controlled by EDF ENR, Photowatt and CEA Investissement. The matter was handled by partner Jacques-Philippe Gunther, national partner Charlotte Breuvart and associates Maxime de l’Estang and Clémence Hardy. The transaction also involved several other Willkie offices in Europe.