The cross-firm Energy team at Wragge Lawrence Graham & Co has advised Africa Growth and Energy Services (AGES) on the drafting of a series of project documents to support a landmark renewable project in Sierra Leone. Part of the country's strategy to use renewables to aid its huge power shortage, it will see the creation of an up to 20MW solar farm to serve the cities of Bo and Kenema.
Herbert Smith Freehills has recently advised Etablissements Maurel & Prom, a French oil company engaged in hydrocarbon exploration and production, on the issue of net share settled bonds convertible into new shares and/or exchangeable for existing shares (ORNANE) for a total nominal amount of approximately €115 million.
Ashurst advised long-standing client Atlantis Resources Limited ('Atlantis Resources'), a global leader in the tidal power sector, on the acquisition of the Bristol-based tidal business, Marine Current Turbines Ltd ('MCT'), from Siemens AG in an all share deal. Ashurst also advised Atlantis Resources on a loan package to be provided by leading Scottish energy services contractor Global Energy Group to finance the on-going working capital requirements. The acquisition and financing are conditional upon certain conditions precedent being satisfied.
Dentons has advised PETRONAS, the Malaysian oil and gas giant, on its acquisition of Statoil's 15.5% interest in the Shah Deniz gas field and associated pipelines off shore Azerbaijan. The deal completed in April 2015.
Shah Deniz is one of the largest gas projects in the world, paving the way for Caspian gas to be delivered directly to European markets for the first time through pipelines across Turkey, Greece and Albania into Italy, reducing Europe's dependence on Russian gas.
Slaughter and May, working as a team with Cravath, Swaine & Moore LLP and De Brauw Blackstone Westbroek, advised Royal Dutch Shell plc on the issue of a quintuple-tranche US$10 billion bond under its US shelf programme. The issue consists of US$2 billion 2.125% Fixed Rate Notes due 2020, US$2.75 billion 3.250% Fixed Rate Notes due 2025, US$1.5 billion 4.125% Fixed Rate Notes due 2035, US$3 billion 4.375% Fixed Rate Notes due 2045 and US$750 million Floating Rate Notes due 2020, in each case issued by Shell International Finance B.V. and guaranteed by Royal Dutch Shell plc.
Herbert Smith Freehills has advised Severn Trent Plc, a FTSE-100 company which provides and treats water and waste water in the UK and internationally, on the sale of its water purification business to its joint venture partner Industrie De Nora SpA, a private multinational company headquartered in Italy.
Charles Russell Speechlys acted for MayAir Group Plc on its admission to AIM. The company successfully raised £16.2 million via the placing of 12,475,000 new ordinary shares at a price of £1.30 per share, valuing MayAir at £55.2 million.
MayAir (or “the Group”) is a leading provider of advanced technologies and products to create contamination-free environments (known as a “cleanroom”) in the industrial, commercial and residential markets.
The cross-sector Energy team at Wragge Lawrence Graham & Co has advised established client Grid Essence on the sale of a portfolio of eight solar PV parks, which have an overall energy production capacity of 53MW, and the subsequent refinancing of the projects.
The first phase of the deal (which completed on 21 April 2015) involved the sale of the portfolio of solar parks to Capital Stage, a German publicly-listed solar and wind park operator, for £67.7 million.
Simmons & Simmons has advised DONG Energy A/S on its issuance of €600m Callable Subordinated Capital Securities due 3015.
The Simmons & Simmons team was led by capital markets partner Piers Summerfield, and managing associate Tony Geffin. UK tax advice was provided by partner Mark Sheiham and associate Laura Allwright.
Ashurst has advised Eurus Energy Holdings Corporation (Eurus Energy), a Japanese leading renewable energy provider, on the development of the Coonooer Bridge Wind Farm Project.
Located north-west of Bendigo, Victoria, the Coonooer Bridge Wind Farm is expected to generate about 19.4 megawatts of power, which is enough to supply power to 14,000 homes.