Leading international law firm Clifford Chance has advised global energy company Royal Dutch Shell plc on an agreement with Viva Energy Pty Ltd for the sale of Shell Aviation Australia Pty Ltd for a total transaction value of approximately US$250 million. This follows the sale of Shell’s other downstream activities in the country to Viva Energy in 2014, on which Clifford Chance also advised.
A team from Egorov Puginsky Afanasiev & Partners’ Litigation practice successfully represented the interests of EWS, an oilfield services company offering unique hydraulic fracturing technology, in a dispute against Ruspetro in the Khanty-Mansi Autonomous Area Commercial Court. The dispute arose from a service contract to increase the production rate at oilfields in Khanty-Mansi Autonomous Area.
Jones Day is advising TDK Corporation in its $1.3 billion acquisition of InvenSense, Inc. The transaction has been unanimously approved by the Boards of Directors of both companies. Completion of the transaction is expected in the second quarter of the fiscal year ending March 31, 2018, and is subject to approvals by InvenSense shareholders and the relevant regulatory authorities. The acquisition will be completed through a merger of a newly created subsidiary of TDK with and into InvenSense, with InvenSense continuing following the merger as a wholly-owned subsidiary of TDK.
Singapore: Leading international law firm Clifford Chance has advised a consortium comprising Star Energy Group Holdings Pte. Ltd., Star Energy Geothermal Pte. Ltd., AC Energy Holdings, Inc. (a subsidiary of Ayala Corporation) and Electricity Generating Public Company Limited on the entry into binding agreements to acquire global energy provider Chevron's geothermal operations in Indonesia and the Philippines.
The assets in both countries include geothermal fields with a combined capacity to generate more than 1100 MW of electricity and steam.
Hogan Lovells advised EDF in relation to the sale of the whole of EDF stake in EDF DEMASZ Zrt, its Hungarian subsidiary, to ENKSZ ("Elso Nemzeti Kozmuszolgaltato Zrt."). This announcement follows the receipt of both the approval by the Hungarian regulator of the energy sector and the authorization by the French Ministry of Economy.
The transaction values the 100% stake of EDF in EDF DEMASZ Zrt at approximately 400 million euros, and is a new step forward in the execution of EDF's disposal plan for the 2015-2020 period.
On 20 December 2016, Linde AG (Linde) and Praxair Inc. (Praxair) announced that the companies intend to combine in a merger of equals under a new holding company through an all-stock transaction. The companies have signed a non-binding term sheet and expect to execute a definitive Business Combination Agreement as soon as practicable.
New York, 22 December 2016 – Hogan Lovells has advised Banco Cuscatlán in El Salvador in creating and sponsoring a new diversified payment rights securitization program (DPR). Titularizadora de DPRs Limited, a special purpose vehicle organized in the Cayman Islands, borrowed US$100 million of Series 2016-1 Loans. Credit Suisse was the sole lender.
The transaction closed on December 9, 2016.
The Hogan Lovells team included New York partners Emil Arca and Oscar Stephens, and associate Rebecca Francus.
De Brauw advises Vopak on the acquisition of Exmar's floating LNG storage and regasification (FSRU) business.
Client name
Koninklijke Vopak N.V. - purchaser
Other parties involved
Exmar NV
Nature of transaction
Ince & Co LLP has provided cross-border legal advice to longstanding client GasLog Ltd. (“GasLog”), an international owner, operator and manager of liquefied natural gas (“LNG”) carriers, on a sale and purchase agreement (“SPA”) to acquire a twenty percent shareholding in Gastrade S.A. Gastrade is licensed to develop an independent natural gas system offshore Alexandroupolis in Northern Greece. The system utilises a floating storage and regasification unit (“FSRU”), along with other fixed infrastructure.
Slaughter and May advised DONG Energy on its disposal of a 50% interest in the 573MW Race Bank offshore windfarm to Macquarie European Infrastructure Fund 5 and Macquarie Capital, the principal investment arm of Macquarie Group. It also advised on the terms of a certain related financing, construction management, operations and maintenance and power purchase arrangements.