Linklaters along with Slaughter and May advised on E.ON’s acquisition of OVO Energy’s UK retail business.
E.ON has agreed to acquire the UK retail energy business of OVO Energy. The proposed transaction will result in the formation of the UK’s leading retail energy supplier, with E.ON acquiring approximately four million UK retail energy customers.
As part of the transaction, E.ON has also committed to servicing customers post-completion through the Kaluza software platform, requiring bespoke licensing arrangements relating to the provision of energy intelligence and optimisation software.
The transaction additionally includes market access arrangements for the OVO Energy business through power and gas supply arrangements as well as hedging structures to be implemented following completion.
Linklaters advised E.ON on the acquisition.
The deal team was led by Chris Staples and Patrick Fincham, with Natura Gracia and Sima Ostrovsky advising on regulatory and anti-trust matters. Georgina Kon led the negotiation of the licencing arrangements with the Kaluza technology platform, with Thomas Chappatte leading on market supply and access. Sam Lintonbon advised on tax aspects of the transaction.
Slaughter and May advised OVO Energy in connection with the sale of its UK energy retail business to E.ON.
The Corporate team comprised Partners Alex Dustan, and Hemita Sumanasuriya, and Associates David Subel, Teodora Stanoeva, Robbie Hardless and Charles Papworth.
The Financing team comprised Partner Caroline Phillips and Associates Teddy Rose and James Kaye.
The Competition team comprised Partner Lisa Wright and Associates Madalina Secareanu, Luis Guincho, Harry MacGregor and Simi Fajemisin.
The Tax team comprised Partner Gareth Miles, Senior Counsel Jamshed Bilimoria and Associate Diwankar Agrawal.
The Financial Regulation team comprised Partner David Shone and Associates Jay Welch and Jacob Darcy.
The Pensions, Employment and Incentives team comprised Partners Charles Cameron, & Phil Linnard, Senior Counsel David Rintoul, and Associates Kathryn Wilson and Olivia Harrison.
The Real Estate team comprised Partner Simon Bartle and Associate Summer Houlder.
The IP/IT team comprised Partner Laura Houston and Associates Ian Ranson, Christopher Burns and Natasha Pappas.
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