TotalEnergies to buy 50% of EPH’s power assets for $5.9bn

TotalEnergies has accelerated its gas-to-power integration strategy by signing an agreement to acquire 50% of EPH's flexible power generation platform in Western Europe in a €5.1bn ($5.92bn) all-stock transaction. The deal includes assets in Italy, the UK, the Republic of Ireland, the Netherlands, and France. Under the deal, EPH will be paid entirely in new TotalEnergies shares, receiving 95.4 million shares priced at €53.94 each. The issuance represents about 4.1% of TotalEnergies’ share capital. The t ...