Dentons represented French energy group EDF in the sale of the group's assets in Poland to PGE Polska Grupa Energetyczna S.A. The transaction was worth upward of EU1 billion. Under the terms of the deal, PGE acquired four combined heat and power plants in Krakow, Gdansk, Gdynia and Torun, a heat distribution network in Torun, and the Rybnik power plant, as well as EDF's shares in ZEC Kogeneracja. ZEC Kogeneracja owns four heat and power plants in Wroclaw, Zielona Gora, Czechnica and Zawidawa and a heat distribution network in Zielona Gora.

"PGE is acquiring a premier portfolio of assets, which the EDF group in Poland has built up over many years. This is the largest transaction in Poland's energy sector in the last five years and among the largest of its kind seen recently in Europe," said partner Piotr Dulewicz, Head of the Mergers and Acquisitions team in Dentons' Warsaw office.

Dentons performed due diligence for the seller, advised on the pre-transaction in-house restructuring, and drafted and negotiated the transaction documentation.

Piotr Dulewicz and Pawel Grabowski, partners in Dentons' M&A team, led the deal, working along with the members of the Energy and National Resources Team headed by Arkadiusz Krasnodebski. Other key lawyers advising on the transaction included partner Tomasz Janas and counsel Marceli Kasperkiewicz, working with partners and lawyers from several of the law firm's key teams.

"This strategic transaction marks yet another step in the ongoing long-term consolidation of the energy sector in Poland," noted Arkadiusz Krasnodebski, Head of Dentons' Europe Energy and National Resources practice. "Earlier this year, Enea acquired the Polaniec power plan from France's Engie. Dentons advised Enea on that deal."