Jones Day and Shahid Law Firm acted for TotalEnergies in its Acquisition of Total Eren
Jones Day and Shahid Law Firm acted for TotalEnergies in its Acquisition of Total Eren
In a notable collaboration, Jones Day and Shahid Law Firm have jointly played vital roles in supporting TotalEnergies throughout its recent acquisition of Total Eren Holding and its affiliated companies. This strategic manoeuvre, designed to advance TotalEnergies’ footprint within the realm of renewable energies, encompassed a significant capital infusion of around €1.5 billion.
The acquisition process greatly benefited from the expertise and legal counsel offered by Jones Day. Their pivotal role involved skilfully navigating the complex legal dimensions of the transaction, guaranteeing its seamless and triumphant completion. Shahid Law Firm, on the other hand, contributed invaluable perspectives and assistance in managing regional merger control legal matters, playing a vital part in ensuring that the transaction remained in full accordance with pertinent regulatory frameworks.
The acquisition undertaken by TotalEnergies is expected to significantly boost its Integrated Power Net Operating Income, with a projected target of €160 million by 2024. Additionally, the projected upsurge in Cash Flow From Operations (CFFO) to €400 million underscores the strategic significance of this acquisition.
Shahid Law Firm's dedicated team, led by Partner Dr. Michael Boutros and Associate Mehiar Joulji, provided comprehensive legal support to TotalEnergies on the local aspects of its acquisition. Their expertise in Egyptian law was invaluable in helping TotalEnergies navigate the complex regulatory environment and ensure the success of the transaction.
