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The Guardian - UK

Business

Jillian Ambrose Energy correspondent

TotalEnergies buys €5.1bn stake in Czech tycoon’s power plants business

TotalEnergies Daniel Křetínský Total United States United Kingdom Electricity Oil Vattenfall EPH Royal Mail

Daniel Křetínský attends the International conference SH!FTS in Prague, Czech Republic, Oct. 17, 2023. — Daniel Křetínský’s companies own stakes in Royal Mail and West Ham United football club. His power generation business includes several UK plants. Photograph: Roman Vondrous/AP

The Czech billionaire Daniel Křetínský is to become one of the largest shareholders in TotalEnergies after selling a stake in his electricity generation business, which includes several UK power plants, to the French oil company.

Křetínský, whose companies own stakes in Royal Mail and West Ham United football club, agreed to sell a 50% stake in his stable of European power plants to TotalEnergies for about €5.1bn (£4.5bn) in exchange for about 4.1% of Total’s share capital.

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