London -LAWFUEL – UK Law Newswire – Allen & Overy LLP has adv…

London -LAWFUEL – UK Law Newswire – Allen & Overy LLP has advised the joint bookrunners Citigroup, Deutsche Bank and Merrill Lynch on the GBP2.3 billion sale of the UK Government’s stake in British Energy Group plc, which represents the largest UK equity offering so far this year and one of the largest ever UK equity offerings by way of an accelerated bookbuild.

The UK Government has sold 450 million shares at 520p per share, constituting a 28% stake in British Energy (including the over-allotment option, which was fully exercised). The offering was conducted over a two day bookbuilding process and the net proceeds of the sale will be used to help fund the decommissioning of British Energy’s existing nuclear power plants.

The Allen & Overy team was led by Corporate partners Daniel Epstein and Richard Cranfield, assisted by associates Seth Jones and Nicola Bush. Tax partner David Hughes, assisted by associate Steffan Adfeldt, also advised on the transaction.

Commenting, Daniel Epstein said: “We are delighted to have advised Citigroup, Deutsche Bank and Merrill Lynch on this unique and important transaction and we are pleased that it has been so well received by the market.”

For further information please contact Karen Levin ([email protected]) on +44 (0)20 3088 4341.

List your legal jobs on the LawFuel Network
Scroll to Top