Allen & Overy announced today that it is advising Eni S.p.A. (Eni) on the sale of Eni’s stake in the Czech Republic’s sole refinery, Ceska rafinerska, to Hungarian oil and gas group MOL, as well as on the sale of Eni’s wholly owned downstream oil affiliates (eni Ceska Republika, eni Slovensko and eni Romania) operating over 200 Agip branded petrol stations in the Czech Republic, Slovakia and Romania.

The sale of Eni’s 32.44% stake in Ceska rafinerska is subject to the right of first refusal of Unipetrol (controlled by PKN Orlen), the other shareholder in Ceska rafinerska.

Prague-based managing partner for Central Europe Jane Townsend led the Allen & Overy team, assisted by senior associate Magda Pokorna. Specialist employment advice has been provided by associate Ondrej Kramolis. Senior associate Vojtech Palinkas advised on the Slovak aspects of the transactions, while RTPR Allen & Overy partner Costin Taracila (with support from associate Anca Rusu) advised on the Romanian aspects of the disposals.

The Allen & Overy team worked closely throughout the transaction with the Eni legal team led by by Avv. Alessandro Benedetti, manager of International Refining & Marketing Business Legal Assistance. Domenico Durante, Eni’s senior vice president for antitrust and regulatory legal assistance, advised on the competition law aspects of the transactions.

Jane commented: “We are proud to have worked again with Eni in relation to these complex transactions, continuing a much-valued relationship, developed over many years of working together in relation to Eni’s operations in the CEE region. It is another example of Allen & Overy being preferred counsel for pivotal multi-layered deals.”

The transactions are subject to merger clearance in a number of jurisdictions.