McGuireWoods represented EDF Trading Holdings LLC in the sale of EDF Energy Services (EDFES), a leading supplier of power, natural gas and related services to commercial and industrial customers across the United States, to BP.
EDFES is the retail business of EDF Trading North America. Its customers are primarily large corporations and public entities, including retailers, universities, manufacturers and producers, municipalities and power generators. The acquisition expands BP’s capability to deliver energy and additional services directly to large end-user customers in new and existing markets and brings new opportunities for enhanced lower carbon integrated energy solutions.
The agreement, announced on Sept. 12, 2022, includes the purchase of 100% of the membership interests of EDFES. Subject to regulatory approvals, the deal is expected to close by the end of the year.
“We’re very proud that EDF placed their confidence in us to represent them in a deal that was strategically important for the future of EDF and BP,” Daniels said.
McGuireWoods consistently ranks among the leaders in U.S. and global M&A deals in league tables published by Bloomberg and Refinitiv. The firm’s energy industry team brings together legal, policy, energy technology and business experience to provide integrated services to clients across sectors.