Total becomes the fourth largest electricity company in Spain

We advised Total on buying EDP Comercializadora, which involved acquiring 2.5 million clients and two combined-cycle power plants with a capacity of 850 MW in Navarra, Spain.

The transaction, negotiated electronically during the state of emergency in Spain, is one of the largest in the Spanish energy sector in 2020, making Total the fourth largest electricity company in Spain based on number of clients.

Cuatrecasas, together with the French law firm Gide Loyrette Nouel (member of our European Network), advised Total on (i) carrying out the legal due diligence of the assets; and (ii) negotiating the contractual documents (share purchase agreement, transitional service provision agreement and supporting documents) required to sign the transaction.