Osborne Clarke advised SEL Srl, a company forming part of the SEL Group, the main producer of hydroelectric energy in Alto Adige and operating in the generation. distribution and sale of electricity, in its acquisition from Green Utility S.p.A. of 80% of the share capital of the company Selsolar Rimini S.r.l., owner of the largest integrated pv plant with innovative technical characteristics in Italy, and nominal power of 4,33 MWp, located on the roofs of the exhibition halls of the Rimini trade fair.
Latham & Watkins advised Qatar Petroleum (QP) on the US$880 million (QAR3.2 billion) initial public offering (IPO) of shares in Mesaieed Petrochemical Holding Company Q.S.C. (MPHC), a QP subsidiary, at an offer price of QAR10 per share plus offering and listing costs.
Osborne Clarke has advised Cape plc (LSE:CIU), the international provider of critical support services to the energy and mineral resources sector on its acquisition of Motherwell Bridge Limited, world leader in the build and maintenance of storage tanks, heat exchangers and gasholders for a sum of £37m net of debt and working capital.
The Osborne Clarke team was led by Head of Business Transactions Group, Partner Ray Berg who was assisted by Associate Director Matthew Bodfield and Associate Jenny Reid.
Latham & Watkins advised Melco Crown Entertainment Limited on a PHP15 billion (approximately US$330 million) senior notes issuance by its subsidiary, MCE Leisure (Philippines) Corporation, in relation to the development of the Melco Crown Entertainment group’s Philippine casino business. The senior notes, issued on January 24, 2014, were issued under a notes facility agreement structure which has been locally developed and is unique to the Philippines. Melco Crown Entertainment provided a New York law governed parent guarantee for the senior notes.
A Dubai-based team of Dechert LLP lawyers represented Lamprell Energy Ltd., a subsidiary of Lamprell plc (Lamprell), in its sale of International Inspection Services Ltd (Inspec), a UAE-based provider of non-destructive testing (NDT) and associated services to the oil and gas industry, to Intertek Group plc (Intertek), a leading quality solutions provider to industries worldwide.
Dechert partner John Podgore was assisted by associates Greg Nixon and Carly Jackson in the disposal for a total cash consideration of US$66 million.
Herbert Smith Freehills London energy team has advised PTTEP Canada Limited (PTTEPCA), a wholly-owned subsidiary of PTT Exploration and Production Public Company Limited (PTTEP), as international legal counsel on PTTEPCA signing an agreement with Statoil Canada Limited (SCL) to restructure the ownership of the five areas of the Canada Oil Sands Kai Kos Dehseh Project (KKD Project) in Athabasca, Alberta, Canada.
Freshfields Bruckhaus Deringer has successfully represented BG Group in the first investment treaty arbitration case to be addressed by the Supreme Court of the United States, which today reinstated a $185M award in favor of the UK-based oil and gas company in its long-running dispute with the Republic of Argentina.
In a 7-2 decision, the Court vacated a DC Circuit Court ruling that overturned the award, which was originally issued by a panel of international arbitrators in 2007 and confirmed by a US District Court in 2010.
Capital Stage AG has successfully completed a 10% capital increase. The Hamburg-based company has acquired photovoltaic plants and wind farms in Germany and Northern Italy with a capacity of around 241 megawatt peak (MWp) since 2009, making it one of the largest independent solar park operators in Germany.
Stephenson Harwood has advised Soma Oil & Gas Holdings Limited ("Soma") on an equity investment of US$50 million from private equity investment company Winter Sky. The funding will enable Soma to take forward the initial stages of an exploration programme, agreed with the Federal Republic of Somalia in 2013, to develop the country's energy sector.
The additional funding will satisfy Soma's obligations to the Government of Somalia under a seismic option agreement, on which Stephenson Harwood also advised Soma in August 2013.