The Sydney office of Norton Rose Fulbright has acted as Australian adviser and deal counsel for the Independent State of Papua New Guinea on its subscription for 149.39 million shares in Oil Search Limited and financing  provided by UBS AG, Australia Branch. 

The transaction involved complex cross-border and sovereign issues with the share acquisition being  funded through innovative financing arrangements. At A$1.239 billion, this is one of the largest acquisition financings in Australia in 2014 and was completed by the Norton Rose Fulbright team in an exceptionally short timeframe for a transaction of this type, from the time of its announcement on 27 February 2014 to completion on 12 March 2014.  

The Norton Rose Fulbright team included Anthony Latimer (Partner), Iain Laughland (Partner), Tessa Hoser (Partner), Vittorio Casamento (Special Counsel), Steven Moe (Senior Associate), Jenida Satem (Associate) and Olivia Allan (Lawyer).