TotalEnergies SE (ENXTPA:TTE) agreed to acquire the remaining 70.8% stake in Total Eren SA from Bpifrance Investissement SAS, Next World Group, Peugeot Invest Société anonyme (ENXTPA:PEUG), Tikehau Capital (ENXTPA:TKO) for ?1.5 billion on November 23, 2022. As part of this transaction, Total Eren is valued at an Enterprise Value of ?3.8 billion based on an attractive EBITDA multiple negotiated in the initial strategic agreement signed in 2017. The acquisition of 70.8% represents a net investment of around ?1.5 billion for TotalEnergies. Upon completion of the buyout, Total Eren will be integrated within Totalenergies' Renewables businessunit. As of April 20, 2023, European Commission approved the acquisition of Total Eren.

TotalEnergies SE (ENXTPA:TTE) acquired the remaining 70.8% stake in Total Eren SA from Bpifrance Investissement SAS, Next World Group, Peugeot Invest Société anonyme (ENXTPA:PEUG), Tikehau Capital (ENXTPA:TKO) on July 25, 2023. Guillaume Vallat, Orion Berg, Alexandre Jaurett, Estelle Philippi and Johanne Dubucq of White & Case LLP and White & Case LLP (Paris) acted as legal advisors to EREN Group and its subsidiary Total Eren. Michael Boutros of Shahid Law Firm and Eric Barbier de La Serre of Jones Day (France) acted as legal advisor to TotalEnergies SE.