Clyde & Co has advised West African Gas Limited (WAGL), a joint venture owned by subsidiaries of the Nigerian National Petroleum Corporation and Sahara Energy Resource Ltd, in its development of a liquefied natural gas import project at the port of Tema on the coast of Ghana.

This project is the first of its kind in sub-Saharan Africa. In the short term it will play a key role in alleviating Ghana’s ongoing energy crisis, but longer term it will enable Ghana to become an energy hub in the region. The project has a scheduled start-up date of Q2 2016.

Norton Rose Fulbright has assisted international power generation company ContourGlobal on the financing of the renovation of the Cap des Biches power plant in Senegal that will reach a capacity of 53MW. The combined cycle power plant will operate on heavy fuel with an option to convert to natural gas.

Our lawyers have advised on the implementation of the innovative financing model of the project which was supported by International Finance Corporation (IFC) for the swap to EUR of Overseas Private Investment Corporation’s (OPIC) $91 million financing.

GCL New Energy proposes to issue 5,201,922,393 rights shares at HK$0.45 each (US$0.06), on the basis of three rights shares for every eight shares held by eligible shareholders.

GCL New Energy’s listed parent, GCL-Poly Energy Holdings Limited, will participate in the GCL New Energy rights issue and is conducting a concurrent rights issue to raise approximately US$444m – it will use part of the proceeds to fund the subscription of the GCL New Energy rights shares.

White & Case LLP advised Panasonic Corporation in its US$1.545 billion acquisition of Hussmann Corporation, a Missouri-based manufacturer of refrigerated display cases and systems.

Panasonic agreed with Hussmann Parent Inc., the parent company of Hussmann Corporation, and private equity firm Clayton Dubilier & Rice, the representative of shareholders of Hussmann Parent, to buy 100% of the shares of Hussmann Parent. Hussmann Parent will become a wholly-owned subsidiary of Panasonic. 

Dusseldorf, Baker & McKenzie advised RWE and E.ON on their joint sale of their minority stakes in the Luxembourg utility Enovos.

RWE and E.ON are joint shareholder of Enovos International S.A. 18.4% and 10% respectively. On December 22, 2015 RWE and E.ON signed an agreement to jointly sell their shareholding in the Luxembourg utility Enovos International S.A. to a consortium led by the Grand Duchy of Luxembourg and Ardian, an independent private investment company.

Freshfields Bruckhaus Deringer has advised PetroChina Company Limited (PetroChina) on its consolidation of three pipeline operators into PetroChina Pipelines Co., Ltd (PetroChina Pipelines).

The cumulative value of the three companies being consolidated in the proposed transaction – PetroChina Eastern Pipelines, PetroChina United Pipelines and PetroChina Northwest United Pipelines – is RMB 280bn (US$43bn).

Upon completion, PetroChina will hold a 72.3% stake in PetroChina Pipelines, with the remaining stake held by 11 minority shareholders.

Freshfields Bruckhaus Deringer has advised PetroChina Company Limited (PetroChina) on the sale of its 100% equity interest in PetroChina Kunlun Gas Co., Ltd to Kunlun Energy Company Limited (Kunlun Energy).
The value of the sale, which remains subject to shareholder and regulatory approval, is RMB 14.82bn (US$2.28bn).

Kunlun Energy is a Hong Kong-listed company controlled by PetroChina and is a leading developer of oil and gas fields, and provider of natural gas products in mainland China.

Sonnedix group, a solar operator present in Europe, Asia, Africa and Latin America, has successfully refinanced a portfolio of six photovoltaic parks located in Champagne-Ardenne, Lorraine and Provence-Alpes-Côte-D’azur with a total installed capacity of 57.3 MWp. This is one of the most important solar project refinancing completed in France this year (EUR 203 million).

De Brauw has assisted the Stork Group in the Fluor Corporation’s acquisition of the Stork Group.

The current owner Arle Capital Partners has agreed on the sale for EUR 695 million. The Fluor Corporation is a global engineering and construction firm. Fluor intends to combine its Operations & Maintenance organisation with the Stork Group. The combined group, branded Stork and headquartered in the Netherlands, will have an annual turnover of approximately EUR 2.1 billion and a total of approximately 19,000 employees.

Team

Göteborg Energi and Lidköping municipality have entered into an agreement with FordonsGas Sverige, a subsidiary of the French company Air Liquide, on the transfer of Lidköping Biogas to FordonsGas Sverige. The transfer is expected to be completed in February 2016.