Shearman & Sterling advised Alstom S.A. on the tax aspects of its $16.9 billion acquisition by the General Electric Corporation. The transaction was announced on June 21 and is expected to close in the first quarter of 2015.
The Shearman & Sterling team included tax partners Douglas McFadyen (New York) and Niels Dejean (Paris) and tax counsel Anne-Sophie Maes (Paris).
Castrén & Snellman are legal advisor to Neste Oil’s project regarding the acquisition of a solvent de-asphalting (SDA) unit to be constructed at the company’s refinery in Porvoo. The SDA unit is the largest individual investment to be made in connection with the wider restructuring of Neste Oil’s refinery business. Costing EUR 200 million, this will improve Neste Oil’s production structure and ability to optimise its crude oil slate. The construction of the SDA unit is due to be completed in 2017.
Allens has advised APA Group, Australia's largest natural gas infrastructure business, on its US$5 billion (approximately A$6.05 billion) purchase of the Queensland Curtis LNG (QCLNG) pipeline from the BG Group.
The firm also advised APA on its A$1.8 billion capital raising to partly fund the acquisition.
The 543km pipeline links gas fields in the Surat Basin to the QCLNG LNG plant at Gladstone.
The Allens team was led by Guy Alexander and Kate Towey.
Simmons & Simmons has advised IC Green Energy Ltd on the sale of its majority stake in German biodiesel company PETROTEC AG.
Borken, Germany based PETROTEC AG is a producer of biodiesel. The company is listed in the Prime Standard of the Frankfurt Stock Exchange. PETROTEC has been a pioneer of the German biodiesel industry and today is one of the largest disposal companies for old cooking fat in Germany.
Clifford Chance has advised a consortium of municipal shareholders on the sale of a 35% stake in EAM (Energie aus der Mitte), based in Kassel, Germany.
German utility group E.ON had previously sold its stake in EAM (formerly E.ON Mitte AG), the electricity and gas grid operator, to a consortium of municipal shareholders for around EUR 610 million at the end of 2013. A Clifford Chance team previously advised the consortium on that acquisition at the end of 2013.
BEITEN BURKHARDT has advised REG European Holding B.V. (REG), having its business seat in Schiphol (The Netherlands), a subsidiary of the American Renewable Energy Group, Inc., on the acquisition of the shares in PETROTEC AG, held by the current majority shareholder IC Green Energy Ltd. (ICG), an Israeli company with business seat in Tel Aviv, which represent 69 percent of the company's share capital. Further, REG acquires the shareholder loans. Completion of the transaction is expected before the end of the year.
Joma Industrial Source Corporation, British Virgin Islands has indirectly acquired a stake of 47.70 per cent of C.A.T. oil AG, which is domiciled in Vienna and listed in Frankfurt and which provides services for the oil and gas industry in Russia and Kazakhstan.
The mandatory offer, which is required for that reason, values the share capital at a total of €743 million and was published after approval by the BaFin on 11 December 2014. The acceptance period runs until 8 January 2015.
Guangdong TeamGiant New Energy Technology Co., Ltd. (“TeamGiant”, stock code: 831437) was successfully listed on the National Equities Exchange and Quotations (“NEEQ”) system.
TeamGiant was advised by a team led by Shenzhen-based senior partner Yang Qianwu. The team also included senior partner Zuo Qingyun, associates Fan Yun and Xu Kai and paralegals Luo Jianling, Wang Jun and Zhong Hongdao.
Clifford Chance has advised Petrotec AG in connection with a takeover offer announced by REG European Holdings B.V. REG announced a voluntary takeover offer to the Petrotec shareholders on 9 December 2014 and the purchase of a 69% share package from the previous majority shareholder, IC Green Energy Ltd., Tel Aviv, Israel. REG European Holdings B.V. is a wholly-owned indirect subsidiary of Renewable Energy Group, Inc., Iowa, USA.
Planning experts from Burges Salmon have advised DONG Energy, a partner in the Hornsea Project One offshore wind farm, on the Development Consent Order received on 10 December from the Department for Energy and Climate Change for the 1,200MW Hornsea Project One.