Deutsche Bank and BNP Paribas have consolidated their relationships with Electricité de France (EdF) by acting as joint financial advisers to the company on the acquisition of Seeboard, the UK utility.

London Electricity in the UK, which is owned by EdF of France, will acquire CSW Investments, the parent company of Seeboard, from American Electric Power. The purchase price is £670m (€1.05bn), with the assumption of net financial debt of about £721.8m.