Edison Divests 50% Stake in Elpedison to Helleniq Energy
Deal News | Apr 16, 2025 | Legal Community Italy
Squire Patton Boggs has played a pivotal role in advising Edison in the latter's divestiture of a 50% equity stake in the Netherlands-based company, Elpedison BV, to Helleniq Energy Holdings SA. The transaction, which effectively dissolves a longstanding joint venture between Edison and its partner following over 15 years of successful collaboration, is valued at approximately €200 million for half of Elpedison's net assets, equating to an enterprise value of €540 million for the company as a whole. The completion of this complex cross-border deal, which has engaged Squire Patton Boggs' energy team led by partner Paolo Zamberletti, hinges upon regulatory clearances expected by the conclusion of June 2025. Adjustments to the deal amount remain possible, contingent on earn-outs and contractual indemnities.
Sectors
- Energy
- Legal Services
Geography
- Greece – Elpedison SA is a leading energy company in Greece, which is directly impacted by this transaction.
- Netherlands – Elpedison BV, the entity whose stake has been sold, is a Dutch company, highlighting the transaction's cross-border nature.
- Italy – Edison, the seller in this transaction, is an Italian energy company.
Industry
- Energy – The article pertains to the electricity production and sales industry, with Elpedison being a leader in these sectors in Greece.
- Legal Services – Squire Patton Boggs' involvement in advising on this transaction highlights the role of legal services in complex M&A deals.
Financials
- €200 million – The approximate value of 50% of Elpedison's net equity sold to Helleniq Energy Holdings.
- €540 million – The estimated total enterprise value of Elpedison BV, based on the sale of 50% for €200 million.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Edison | Selling Company | Company | An Italian energy company divesting its stake in Elpedison. |
| Elpedison BV | Target | Company | A Dutch company owning Elpedison SA, a leader in energy production and sales in Greece. |
| Helleniq Energy Holdings SA | Bidding Company | Company | The company acquiring a 50% stake in Elpedison BV. |
| Squire Patton Boggs | Legal Advisor | Company | Provided legal advisory services to Edison in the sale of Elpedison BV. |
| Paolo Zamberletti | Lead Legal Advisor | Person | Partner at Squire Patton Boggs leading the advisory team for Edison. |