18 September 2008 - Gide Loyrette Nouel advises Exeltium on discussion with the European Commission concerning the implementation of procurement and electricity-supply agreements:

Gide Loyrette Nouel is advising Exeltium on the implementation of an industrial partnership agreement between Exeltium and the EDF Group. This agreement would allow Exeltium shareholders access to 320 terawatt/hours of electricity over a 24-year period.

Founded by major industrial groups, including Air Liquide, Rio Tinto Alcan, ArcelorMittal, Arkema, Rhodia, and Solvay, Exeltium will supply as many as 40 enterprises.

Gide participated in exchanges concerning the electricity-supply agreement between EDF and Exeltium, then again in discussions with the European Commission for approval of the legal conditions governing the resale of electricity to Exeltium clients.

The European Commission was concerned about a possible monopoly position in the French market as a result of this agreement, given its exceptional duration and the volumes at stake. In addition, the Commission determined that a certain number of resale restrictions might be anticompetitive. As a result of modifications to the contract by EDF and Exeltium (addition of an opt-out clause for members of Exeltium that prefer to buy from another source and removal of resale restrictions), the Commission was able to confirm that both parties had responded satisfactorily to initial concerns, thereby removing doubts about the initial version of this specific contract.

Michel Guénaire and Sylvain Bergès worked closely with Gide Brussels office (Stéphane Hautbourg and Sophie Quesson) and in Paris with the following departments: M&A (Hugues Scalbert, Matthieu Roy and Emilie Leygonie), Taxation (Guillaume Goulard and Marina Rodrigues) and Finance (Antoine Cousin).