Luminus contemplates acquisition of Essent Belgium
Jones Day is advising Luminus SA (a subsidiary of EDF SA) on the antitrust and merger control aspects of its contemplated acquisition of Essent Belgium NV.
On February 5, 2021, Luminus and Essent Nederland NV (a subsidiary of E.ON SE) signed an agreement relating to the acquisition by Luminus of 100% of Essent Belgium, a retail supplier of gas and electricity in Belgium.
This contemplated acquisition reflects the development strategy of Luminus in Belgium. Essent Belgium is the fifth largest supplier of gas and electricity in the country with 520,000 points of delivery (PODs). The acquisition scope also includes Aralt BV, a subsidiary of Essent Belgium specializing in the installation and maintenance of photovoltaic panels.
The transaction is expected to be completed in Q2 2021, subject to regulatory approval and customary closing conditions.