Addleshaw Goddard's African Business Group has recently advised Seven Energy International Limited ("Seven Energy") in securing US$255 million of new equity capital which will enable the Group to further develop gas supply opportunities in Nigeria's domestic energy market.
Herbert Smith Freehills has advised Shunfeng Photovoltaic International Limited on the acquisition of 100% interests in Wuxi Suntech Power Co. Ltd. from its administrator for RMB3 billion (US$482 million).
Watson, Farley & Williams (“WFW”) advised Swiss power plant operator KKB AG (“KKB”) on the acquisition of the “Selmsdorf III” wind farm from the project developer BayWa r.e..
The wind farm, developed and operated by BayWa r.e., is located in Mecklenburg-West Pomerania, close to the Baltic Sea in North Germany. It is equipped with four Enercon wind turbines and has a total installed capacity of 9.2 MW.
DLA Piper has advised Senvion SE (Senvion) in connection with a syndicated loan agreement amounting to EUR 850 million. The consortium was led by Bayrische Landesbank, Commerzbank Aktiengesellschaft and Deutsche Bank AG. Conclusion of the credit line agreement means extended financing has been secured for the loan facilities amounting to EUR 750 million, agreed in March 2012 until August 2014.
Wong & Partners, a member firm of Baker & McKenzie International in Malaysia, advised Malakoff Corporation Berhad (Malakoff), Malaysia's largest independent power producer (IPP), on two agreements with Sime Darby Energy Sdn. Bhd. (Sime Darby Energy), for the acquisition of Sime Darby Berhad's Malaysian power business.
Watson, Farley & Williams (“WFW”) has advised London-based oil and gas exploration company Tower Resources plc (“Tower Resources”) on three concurrent “transformational” transactions; its £19.3 million (US$32m) placing and subscription, proposed acquisition of Rift Petroleum Holdings Limited (“Rift Petroleum”) and proposed farm-in to Block 2B onshore Kenya alongside Taipan Resources Inc (“Taipan Resources”).
Allen & Overy LLP, in association with leading local law firm Zeyad S. Khoshaim Law Firm, has advised Saudi Electricity Company (SEC), the Gulf's largest utility company, on its record breaking USD2.5 billion sukuk, the largest ever Rule 144A sukuk offering.
The sukuk consists of two separate series of sukuk certificates: a USD1.5bn 10-year series and a USD1bn 30-year series priced at 4.00% and 5.50% respectively, with profit payments payable on a semi-annual basis. Deutsche Bank, HSBC and J.P. Morgan are the lead managers and bookrunners on the sukuk.
Watson, Farley & Williams (“WFW”), advised Rame Energy plc (“Rame”) on its admission to trading on the AIM market of the London Stock Exchange plc. Trading under the AIM symbol RAME, the company raised £2.1 million by way of a placing of new shares and the issue of convertible loan notes.
Issuing 7,222,223 ordinary new shares at 18p, the floatation valued the company at around £1.7 million.
M3nergy is an emerging exploration and production company headquartered in Malaysia. It is owned by Sabah Development Bank and its strategic focus is on marginal field development, with 15 years of experience in the field. PT Transamudra is an owner and operator of vessels in the offshore oil and gas sector headquartered in Indonesia.
Shearman & Sterling has acted for Petkim Petrochemical Holding Corporation (Petkim), Turkey's largest petrochemical complex, in its agreement with Alstom, the French wind turbine manufacturer, for the construction and operation of a 51 MW wind power plant (WPP) for an investment cost of EUR 55 million. Once constructed, it will be possible to generate approximately 200 GWh energy.