TotalEnergies buys €5.1 billion stake in Kretinsky's power generation business
France's TotalEnergies has struck a partnership deal with Czech billionaire Daniel Kretinsky's firm EPH. It will create a 50-50 joint venture that will manage power plants across several western European countries with a total capacity of 14 gigawatts. In an all-stock deal, EPH will receive €5.1 billion worth of new Total shares and become its third-largest shareholder.
France's TotalEnergies has struck a partnership deal with Czech billionaire Daniel Kretinsky's firm EPH. It will create a 50-50 joint venture that will manage power plants across several western European countries with a total capacity of 14 gigawatts. In an all-stock deal, EPH will receive €5.1 billion worth of new Total shares and become its third-largest shareholder.
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