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Energy & Utilities

Merlin Energy Pioneers New Financing Option for Oil and Gas Companies in Mexico

24 Jan 2018

Orrick represented Merlin Energy, Inc., an international energy company focused on oil and natural gas exploration and production, in a multi-million dollar financing transaction which has broad implications for the Mexican oil and gas industry.

We guided our client in the negotiation and implementation of the first ever Mexican overriding royalty interest for certain onshore blocks located in Eastern Mexico with Compania Petrolera Perseus.

Dentons advises Vitol on US$534 million debt financing for Shoreline Natural Resources

24 Jan 2018

Dentons has advised long-standing client Vitol, the global energy and commodity trading group, on its participation in the recent US$534 million debt financing for Shoreline Natural Resources Limited (SNRL), the indigenous Nigerian oil producer which, together with the Nigerian Petroleum Development Company, owns OML 30, a large onshore block in the western Niger Delta.

As well as refinancing existing indebtedness, the new credit facility will enable SNRL to increase production from OML 30 at a time when the oil market's recovery appears to be stabilising.

Dentons advises Vitol on US$534 million debt financing for Shoreline Natural Resources

24 Jan 2018

Dentons has advised long-standing client Vitol, the global energy and commodity trading group, on its participation in the recent US$534 million debt financing for Shoreline Natural Resources Limited (SNRL), the indigenous Nigerian oil producer which, together with the Nigerian Petroleum Development Company, owns OML 30, a large onshore block in the western Niger Delta.

As well as refinancing existing indebtedness, the new credit facility will enable SNRL to increase production from OML 30 at a time when the oil market's recovery appears to be stabilising.

Ashurst advises TerraCom Limited on its A$15 million equity raising

24 Jan 2018

Ashurst has advised TerraCom Limited (TerraCom) in relation to an accelerated non-renounceable entitlement offer on a 3 for 13 basis at A$0.215 per share to raise up to A$15 million (Equity Raising).

The Rights Issue is fully underwritten by Gleneagle Securities (Aust) Pty Limited acting as the Lead Manager and Underwriter, and is fully sub-underwritten by Bonython Coal No 1 Pty Limited.

The proceeds from the funds raised will be used to strengthen TerraCom's financial position, including expediting the Blair Athol rail line construction.

DWF Dublin advises Capital Stage AG on 140MW solar energy development portfolio

23 Jan 2018

The Dublin office of international legal business DWF acted for Capital Stage AG on its partnership with the Ireland Strategic Investment Fund (ISIF) to invest in a 140MW portfolio of solar PV projects under development by Irish solar developer, Power Capital.

SDAX-listed Capital Stage AG, is one of Europe's leading renewable independent power producers with wind and solar investments in multiple EU countries. 

DWF Dublin advises Capital Stage AG on 140MW solar energy development portfolio

23 Jan 2018

The Dublin office of international legal business DWF acted for Capital Stage AG on its partnership with the Ireland Strategic Investment Fund (ISIF) to invest in a 140MW portfolio of solar PV projects under development by Irish solar developer, Power Capital.

SDAX-listed Capital Stage AG, is one of Europe's leading renewable independent power producers with wind and solar investments in multiple EU countries. 

Clifford Chance advises bank syndicate on the financing of STEAG's acquisition of two incineration plants

22 Jan 2018

The energy group STEAG GmbH based in Essen has successfully refinanced the acquisition of two incineration plants through external funding. In early/mid-2017 STEAG Waste to Energy GmbH acquired Vattenfall's shares in the plants Thermische Abfallbehandlung Lauta GmbH & Co. oHG and IKW Rüdersdorf GmbH. Clifford Chance provided legal advice to the banks concluding the loan agreement, Landesbank Hessen-Thüringen Girozentrale and KfW IPEX-Bank GmbH.

Toshiba to Sell Westinghouse

22 Jan 2018

Skadden advised Toshiba Corporation on the sale of its claims against Westinghouse Electric Company LLC to Nucleus Acquisition LLC (a consortium controlled by The Baupost Group, LLC) for $2.16 billion and the sale of its Westinghouse-related shares to Brookfield WEC Holdings LLC. Skadden also assisted Toshiba with the successful negotiation and execution of a key plan support agreement with Westinghouse, its statutory unsecured creditors committee and other parties.

Toshiba to Sell Westinghouse

22 Jan 2018

Skadden advised Toshiba Corporation on the sale of its claims against Westinghouse Electric Company LLC to Nucleus Acquisition LLC (a consortium controlled by The Baupost Group, LLC) for $2.16 billion and the sale of its Westinghouse-related shares to Brookfield WEC Holdings LLC. Skadden also assisted Toshiba with the successful negotiation and execution of a key plan support agreement with Westinghouse, its statutory unsecured creditors committee and other parties.

DLA Piper advises ERG SpA on the acquisition of Windpark Linda from Vortex Energy

20 Jan 2018

DLA Piper has advised the Italian energy company ERG SpA on its acquisition, from Vortex Energy Group, of Windpark Linda GmbH & Co KG, holder of project rights for a 21.6-MW wind project in the district of Wittenberg, Germany, as well as in connection with the associated project development documentation and the construction contract.

The acquisition was made by ERG’s subsidiary in Germany, ERG Windpark Beteiligungs GmbH. The involved parties have agreed to treat the purchase price confidential.