Eversheds Sutherland advises Shell on strategic acquisition in UK domestic gas and electricity market

Eversheds Sutherland has advised The Shell Petroleum Company Limited (Shell) on its agreement to acquire First Utility, a leading independent UK household energy and broadband provider. The deal is subject to regulatory and other approvals and is expected to complete in early 2018.

This ground-breaking deal moves Shell into the UK domestic gas and electricity market. Once completed, the Shell group’s energy supply, trading and marketing expertise, combined with First Utility’s experience in serving around 800,000 homes in the UK, will enable First Utility to grow and develop more innovative services for customers.

The Eversheds Sutherland team was led by corporate Partner, Iwan Walters and comprised: Partners Simon Crossley (commercial), Ros Kellaway (competition) and Employee Incentives Partner, Danny Blum. They were supported by Senior Associates Philip Barratt (corporate), Richard Johnson (tax) and Claire Morgan (competition).

Iwan Walters, said:

“We are delighted to be working with Shell on this exciting new venture, supporting their strategy as they develop their presence in the UK’s domestic gas and electricity markets.  It is an extremely interesting time to be entering the UK’s domestic gas and electricity market as it is so competitive. We look forward to building on our close working relationship with Shell in the UK and internationally.”