Transaction

Transaction Details

Closed
April 1, 2019

Sector

Industrials and Industrial Technology

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GCA Advises TEPCO Fuel & Power on Its Integration of Its Thermal Power Generation and Gas Distribution Business with Chubu Electric Power

GCA advised TEPCO Fuel & Power Inc., the thermal power generation unit of Japan's largest electric power company, Tokyo Electric Power Company Holdings Co. Ltd. (TSE:9501), on its agreement with Chubu Electric Power Co. Ltd. (TSE:9502) to integrate the thermal power generation and gas distribution businesses under JERA Co. Inc. ("JERA"), the joint venture of the two companies.

This agreement is the last of the four-year three-step plan to integrate the energy businesses of Japan's largest and third-largest regional power utilities with the goal of establishing a globally competitive energy company that covers the entire energy supply chain, from fuel procurement to power generation.

Through this transaction, JERA will become an approximately $20 billion energy company with capacity that accounts for nearly half the country's domestic thermal power generation. JERA will also become the world's largest liquefied natural gas buyer.

GCA has advised TEPCO, a leading public company, on its corporate strategies since 2013, from strategy planning, partner selection and joint venture establishment to forming and executing the plan to complete the integration.

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