Linklaters has advised the European Energy Exchange (EEX), part of Deutsche Börse Group, on the acquisition of a majority stake in France-based Powernext. In future, EEX will hold 55.8 per cent of the shares in Powernext.

These two leading European energy exchanges can look back on a long-standing history of successful co-operation. The merger is a logical strategic step in the further development of joint undertakings. The necessary approval of the transaction by the relevant competition authorities has already been granted. This move will lead to the creation of the largest energy exchange group in Northwestern Europe under the leadership of Deutsche Börse Group.

As from 1 January 2015, all natural-gas activities of EEX Group will be consolidated on the Pegas platform, which is operated by Powernext.

The Linklaters advisory team was led by Dr Kai Pritzsche (Corporate/Energy, Berlin) and Marc Petitier (Corporate, Paris). The team also included Dr Daniel von Brevern (Competition/Antitrust, Düsseldorf), Sebastian Pooschke (Energy, Berlin), Martin Borning (Corporate/Energy, Berlin), Henry Hoda (Corporate/Energy, Berlin), Anna Reshetina (Corporate/Energy, Berlin), Sebastian Hack (Competition/Antitrust, Düsseldorf), Julien Bourmaud-Danto (Corporate, Paris) and Mia Dassas (FRG, Paris).