Clifford Chance is advising Battersea Power Station Development Company on the construction aspects of Phases 1, 2 and 3 of the landmark Battersea Power Station redevelopment in London. The firm has advised on the project since 2012, initially supporting on its Northern Line underground extension, a critical element to the commercial success of this iconic project.
Gleiss Lutz has advised ATLAS Elektronik GmbH, a ThyssenKrupp Group company, extensively on strategic and legal issues in connection with the mutual termination of several proceedings before the Bremen public prosecutor’s office. The proceedings concerned alleged compliance violations committed abroad by former employees. The Bremen public prosecutor’s office concluded all proceedings initiated against ATLAS ELEKTRONIK GmbH by issuing a forfeiture order. The company paid EUR 48 million to the state treasury. No fines were imposed.
An Arbitral Tribunal under the auspices of the Arbitration Institute of the Stockholm Chamber of Commerce (SCC) on 31 May 2017 rendered a separate award in the Gas Sales Arbitration regarding a Gas Sales Contract from 2009 between Naftogaz and Gazprom. The tribunal rejected Gazprom’s “take-or-pay” claim and satisfied Naftogaz’ claim to make the contract price market-reflective. Furthermore, the tribunal, i.a. invalidated the contractual prohibition against gas re-export.
On 24 May 2017, INEOS entered into an agreement to purchase DONG Energy's oil and gas business, which includes assets and operations in Norway, Denmark and the United Kingdom.
The purchase price is USD 1.05 billion plus a contingent payment of up to USD 250 million. In 2016, DONG Energy's production was 100,000 boe per day. Estimated reserves is around 570 million boe. The acquisition is subject to approval by the relevant authorities. Thommessen's assistance is related to the Norwegian oil and gas business and assets.
Ashurst advised Lamprell Plc, a leading provider of diversified fabrication, engineering and contracting services to the global energy industries, on a conditional agreement with partners Saudi Aramco, Bahri, and Hyundai Heavy Industries Co. Ltd. to participate in a joint venture with respect to the establishment, development and operation of a maritime yard for the construction, maintenance and repair of offshore drilling rigs and vessels.
Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised EDF in relation to the European Commission’s review of its acquisition of control of NEW NP, a 100% subsidiary of AREVA NP, pursuant to the European Commission Merger Regulation. The European Commission approved the transaction unconditionally earlier today.
Dong Energy has today decided to sells its entire oil and gas business to British petrochemicals group INEOS in a deal worth more than DKK 8.7 billion.
DONG Energy sells its entire shareholding in DONG E&P A/S to INEOS for an unconditional payment of USD 1,050 million (DKK 7.0 billion) on a cash and debt free basis, a contingent payment of USD 150 million (DKK 1.0 billion) related to the Fredericia stabilisation plant and a contingent payment of USD 100 million (DKK 0.7 billion) which is conditional upon development of the Rosebank field.
[Cologne, 2017-05-18] GÖRG advised Trianel Windkraftwerk Borkum II GmbH & Co. KG (TWB II) on the legal issues involved in its search for an investor for the Trianel Borkum II wind farm. TWB II has now obtained the requisite financing and made its investment decision (construction decision), which means the ‘Financial Close’ has taken place. All suppliers, including Senvion, the turbine vendor, have received notices to proceed, which means all project-related contracts have therefore entered into force and effect.
Slaughter and May is advising Ensco PLC (“Ensco”) on its proposed acquisition of Atwood Oceanics, Inc. (“Atwood”).
Clifford Chance has advised one of Thailand's largest solar independent power producers, BCPG Public Company Limited, on its approximately US$28.5 million investment into a wind power project in the Philippines through an indirect acquisition of 40 percent equity in PetroWind Energy Inc. (PWEI). PWEI was incorporated in 2013 to develop and operate the 50 MW Nabas Wind Power Project in Nabas, Aklan, the Philippines.