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14 April 2010 - Gide Loyrette Nouel advises Exeltium on the prototype for an innovative long-term electricity purchasing contract:
For the past four years, Gide Loyrette Nouel has advised the Exeltium consortium on negotiating a long-term electricity supply contract for its client-shareholders.
For a twenty-four year period, Exeltium will supply a substantial part of the electricity needs to a hundred or so high power-consuming industrial sites whose international competitiveness is directly affected by the price of electricity. These include firms in the aluminium, chemicals, environment, industrial gases, paper, iron & steel, glass, and other sectors. The six founding shareholders (Air Liquide, ArcelorMittal, Arkema, Rio Tinto Alcan, Rhodia, and Solvay) are due to be joined by 20* other international groups during the subscription to a capital increase on 16 April.
During the past four years, Gide has assisted the consortium in:
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discussions with the European Commission with a view to obtaining a favourable opinion on the transaction; |
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negotiating supply agreements with EDF; |
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negotiating sales agreements to be concluded with future clients and in negotiating insurance cover against the risks of clients withdrawing from the project; |
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obtaining administrative authorisations and permits from the ministers in charge of energy and the budget; |
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preparing the integration of future client-shareholders in the consortium. |
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More generally, Gide Loyrette Nouel has advised Exeltium on the energy law, corporate law, tax law, personal data law, and employment law aspects of the project. The Gide team, led by Michel Guénaire (partner) and Sylvain Bergès (associate), included:
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Stéphane Hautbourg (partner) and Sophie Quesson (associate) for competition law issues; |
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Hugues Scalbert and Matthieu Roy (partners) and Emilie Leygonie (associate) for corporate law aspects; |
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Karole-Anne Sauvet and Benoît Brossard (associates) for financial law questions; |
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Guillaume Goulard (partner) and Marina Rodrigues (associate) for tax law issues; |
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David Jonin (partner) for employment law matters, and |
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Thierry Dor (partner) for personal data law aspects. |
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* Ahlstrom Labelpack, Ahlstrom Specialties, Arjowiggins Papiers Couchés, Befesa Valera, Comilog Dunkerque, Eaux du Sud Parisien, Gascogne Paper, Ineos Manufacturing France, Linde France, Norske Skog Golbey, Nyrstar, Omya, Papeteries de Clairefontaine, Perstorp France, Polimeri Europa France, Roquette Frères, Saint-Gobain Isover, Société des Produits Chimiques d’Harbonnières, Tessenderlo Chemie SA, Total Petrochemicals France.
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