Energy & Utilities Financial Deal Insights: Q2 2009

Introduction

As part of the Financial Deals series, Datamonitor presents its quarterly analysis of merger and acquisition activity in European energy markets. This presents an examination and commentary on deals, alliances and takeovers amongst European gas and power utilities The brief considers the financial, strategic and political implications of individual agreements, in the context of wider trends.

Scope

*Details, analysis and opinion of Quarter 1's critical mergers and acquisitions in Europe's energy sector.

*The setting and backdrop to all the deals, explaining their historical context and the current climate in which the utilities operate.

*An assessment of the implications recent mergers and acquisitions will have on the national and regional markets

Highlights

The trend towards mid-stream disposals is also a function of utilities integrating their recent acquisitions. Aside from the legislative fundamentals, the pattern also reflects the fact that the European energy market has reached something of an "M&A plateau".

Just as the saga of Centrica and EDF's joint acquisition of British Energy has come to a close, the former British incumbent is now embroiled in another take-over narrative. In an attempt to reduce their exposure to the erratic UK wholesale gas market, Centrica has mounted a hostile bid for Venture Production, a North Sea oil and gas E&P group.

Reasons to Purchase

*Keep track of Merger & Acquisition activity in Europe's energy sector.

*Compare the strategies of major utility players and how M&A feeds into these policies.

*Position yourself for potential future deals and market opportunities.