November 20, 2006
On November 14, it was announced that Willkie client Gaz de France SA and Suez SA won European Union approval for their $54 billion (€42.1 billion) merger, creating Europe's second-largest utility and maintaining national control of the French power market. The firm’s Paris and Brussels offices advised Gaz de France on the antitrust aspects of the transaction, including its filing with the EU Commission. Approval was obtained after both parties agreed to give up control of Belgian natural gas companies and a heating network in France. Currently owning 70% of Gaz de France, the French government’s stake in the combined company will be cut to just over one third. This merger comes as the European Commission is undertaking a concerted effort to create an EU-wide power and gas market and to get national governments to give up control of energy regulation. The deal was handled by partner Jacques-Philippe Gunther.