Cleary and Gleiss Lutz advise on £4bn EDF sell-off

Cleary Gottlieb Steen & Hamilton and Herbert Smith’s German alliance firm Gleiss Lutz have acted on EDF’s €4.7bn (£3.98bn) sale of its 45 per cent stake in German energy company Energie Baden-Württember (EnBW) to the State of Baden-Württemberg.

Cleary Gottlieb advised EDF while Gleiss Lutz advised the buyer on the acquisition and on a subsequent tender offer.

Cleary’s team was led by partners Pierre-Yves Chabert in Paris, Stephan Barthelmess in Brussels and Klaus Banke and Klaus Riehmer in Frankfurt.

Corporate partners Martin Schockenhoff, Christian Cascante, Andreas Wölfle and Jochen Tyrolt led on the deal for Gleiss Lutz. Public law partner Clemens Weidemann and antitrust partners Rainer Bechtold and Martin Raible were also involved on the deal.

The deal is still subject to antitrust approval, but if all goes ahead as planned the state of Baden-Württember will make a voluntary public takeover offer – through an acquisition vehicle – to all shareholders of EnBW.