Press Release
Press Release

White & Case Advises EPH on £318 Million Acquisition of Two Gas Power Plants From Centrica

Global law firm White & Case LLP has advised EP UK Investments Limited (EP UKI), the UK business of Energetický a průmyslový holding, a.s. (EPH), on its £318 million acquisition of two combined cycle gas turbine (CCGT) power stations from Centrica plc, one of the UK's leading energy and services companies.

The transaction is awaiting EU merger clearance and is expected to complete during the second half of 2017. It consisted of a share sale of target companies that own the Langage and South Humber CCGT plants, which have a combined output up to 2.3 GW. This is another significant addition to EPH's 100 TWh of annual power generation, which now positions it as the seventh largest power producer in Europe.

White & Case previously advised EP UKI on the 2014 acquisition of the coal-fired Eggborough Power Station, through which EPH entered the UK power market, and EPH on the €750 million acquisition in 2015 by its subsidiary EP Slovakia EP of a 66 percent stake in Slovenské elektrárne, a.s.

London-based White & Case partner John Cunningham, who led the Firm's deal team, said: "The deal showcased our ability to collaborate seamlessly across legal disciplines and is yet another example of White & Case's increasing role advising on UK infrastructure and energy M&A deals."

Headquartered in Prague and with assets in Czech Republic, the Slovak Republic, Germany, Italy, the UK and Hungary, EPH is an energy utility company that has more than 25,000 employees and provides cogeneration, power generation, natural gas transmission, gas storage, gas and electricity distribution and supply across Europe.

White & Case was ranked number one by deal value for global M&A in 2016, according to both Bloomberg and Mergermarket. The Firm advised on 319 announced deals with a combined value in excess of US$665 billion, and in the UK was ranked by Mergermarket as the number two M&A law firm by deal value.

The White & Case team in London which advised on the transaction was led by partner John Cunningham and included partners Kirsti Massie, Victoria Landsbert, Nicholas Greenacre, Philip Trillmich and Peita Menon, counsel Tallat Hussain, and associates Jee Ha Kim, James Golunski, Helen Levendi, Joanne Abbott, Laura Hoyland, Emma Roker, Katy Norman, Katherine Halliwell and Kate Russell.

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