Dentons has advised the Czech Republic's Sev.en Energy on an agreement to acquire a 50 percent stake in the multinational energy company, InterGen N.V. from the Canadian Ontario Teachers’ Pension Plan. Clifford Chance advised the sellers on the deal, which is expected to close in the next few months, subject to the approval of the relevant EU and Australian authorities.
According to Dentons, Sev.en Energy currently operates two lignite coal mines and four coal-fired power plant units in the Czech Republic and employs more than 3,200 people. The value of its consolidated assets (prior to the acquisition) was more than EUR 850 million. InterGen owns and operates three combined-cycle gas-fired power plants in the UK and has a stake in two, modern coal-fired power stations in Australia. The total installed capacity of the portfolio exceeds 4,000 MW as well as a 300 MW open-cycle gas-fired power plant currently under construction and expected to be completed in 2019. Furthermore, InterGen has several other energy projects in development.
Dentons’ multi-jurisdictional team was led by Partners Petr Zakoucky (Prague), Charles July (London), Kym Livesley (Sydney), and David Griston (Amsterdam), supported by Associate Paul Scott (London), Junior Associate Barbora Obracajova (Prague), Senior Associate Urvashi Seomangal (Sydney) and Counsel David Shearer (Amsterdam) as the team coordinators.
The Clifford Chance team was led by London-based Partner Simon Tinkler with Advokat Katja Busuladzic, Lawyer Fiona Coffee in London, Partner Jeroen Thijjsen in Amsterdam, and lawyers in Australia.