Vinge advises Statoil in connection with its sale of a 15 percent interest in the Edvard Grieg field to Lundin Petroleum. Through the transaction, Statoil increases its shareholding in Lundin Petroleum to approximately 20.1 percent.
Vinge’s team consists of Göran Nyström and Dain Hård Nevonen.
SMA Solar Technology AG has entered into a credit agreement over €100 million with Commerzbank, Deutsche Bank and Hessische Landesbank to facilitate the further growth of the company.
Freshfields Bruckhaus Deringer LLP (Freshfields) has advised German energy company E.ON on a joint venture with Norwegian energy company Statoil.
Freshfields Bruckhaus Deringer LLP (Freshfields) has advised German energy company E.ON on a joint venture with Norwegian energy company Statoil. The joint venture is for Arkona wind farm.Arkona, which will be located in the Baltic Sea, will have a capacity of 385 megawatts and will be able to provide 400,000 homes with renewable energy. The wind farm is expected to be fully operational in 2019.
White & Case LLP has advised Yanbu Aramco Sinopec Refining Company (YASREF) Limited and its shareholders, Saudi Arabian Oil Company (Saudi Aramco) and China Petrochemical Corporation (Sinopec), on its US$4.7 billion syndicated loan facilities.
Global law firm White & Case LLP has successfully represented MOL Hungarian Oil and Gas plc (MOL) in obtaining regulatory clearance from the European Commission for its acquisition of ENI Hungaria Zrt. (ENI Hungaria) and ENI Slovenija druzba za trzenje z naftnimi derivati, d.o.o. (ENI Slovenija).
Ashurst advised tidal wave power specialist Atlantis Resources Limited on the sale of a minority interest in its Scottish tidal development company Tidal Power Scotland Limited ("TPSL"), to Belgian offshore construction specialist DEME Concessions NV. The investment values TPSL at £100 million.
Ashurst advised Atlantis Resources Limited ("Atlantis"), a recognised global leader in the tidal power sector, on a placing of new ordinary shares. The placing of 11,888,460 shares at 55 pence per share raised approximately £6.5 million
Atlantis plans to use the proceeds to fund project development activities across its project portfolio and for working capital.
The Ashurst team was led by corporate partner Michael Robins, assisted by solicitor Shari Taylor.
Global law firm White & Case LLP has advised Eni S.p.A. on the issue of €400 million non-dilutive equity-linked bonds which do not give rights to holders of the bonds in relation to Eni shares.
The transaction also provides for the purchase by Eni of cash-settled call options relating to Eni shares from one or more Joint Bookrunners, to hedge its exposure to the exercise of the 'conversion' rights under the bonds. The transaction represents the first ever equity-linked synthetic bond deal launched in Italy.
A Norton Rose Fulbright commercial disputes team prevailed in a jury trial for client ExxonMobil in an eight-figure indemnity suit. After a short deliberation, the jury determined that the defendants—a Fort Worth energy company and its principals—are obligated to indemnify ExxonMobil for two eight-figure settlements.
Stephenson Harwood LLP has advised Premier Energy and Water Trust PLC (the "Company") on the establishment of a placing programme of ordinary shares. The placing programme will allow the issue of up to 20 million ordinary shares, which will enable the Company to raise up to approximately £26 million (based on today's prices) to invest in accordance with its investment policy.