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£2.3 Bn Capital Reduction - British Energy Group plc

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£2.3 Bn Capital Reduction - British Energy Group plc


23 October 2007

At £2.3Bn, the recent application on behalf of British Energy for reduction of its Share Premium Account was one of the largest applications for reduction before any UK Court. James McNeill Q.C. and Almira Delibegovic Broome were again instructed to lead for British Energy, having carried through the ground breaking reorganisation of this major plc in 2005. The successful reduction, without the need for an Undertaking restricting the use of the new reserves, was the culmination of many months work for the team, comprising British Energy, MacRoberts, PwC and Counsel.