Hogan Lovells has advised the affiliates of Kuwait Petroleum International on an agreement for the acquisition of shares in the companies containing the Retail, Supply & Distribution, Logistics and Aviation businesses of Shell in Italy.

Shell distributes and markets petroleum products in Italy through a retail network of more than 800 outlets, mainly located in Northern Italy, supported by an efficient logistics structure. The retail network will be converted to the Q8 brand. In the aviation market, Shell operates in the most important Italian airports supplying aviation fuels.

The sale is subject to regulatory approval and is expected to complete in 2014.

Leah Dunlop, Head of Hogan Lovells' Italian corporate M&A team, commented:

"By adopting a cross-border, project management approach we were able to successfully deliver prompt, multi-jurisdictional support for our client and its lead in-house counsel, Simon Whitworth, and bring the deal to signing; coordinating cross-practice expertise from across our Italian, London and Brussels offices."

Ben Higson, London corporate partner and Co-Head of the firm's oil and gas working group, added:

"Hogan Lovells' oil and gas expertise, transactional strength and strong local capability make us ideally placed to advise on complex international transactions in highly regulated sectors such as downstream, where we have closed many deals recently, and where cross border cooperation is key to closing the deal."

Hogan Lovells advised on all aspects of the transaction, providing integrated English and Italian law advice, led by dual-qualified M&A partner Leah Dunlop, supported by London corporate partner and Co-Head of the firm's oil and gas working group Ben Higson and his team; as well as specialist environmental, energy regulatory, public law, commercial law, tax, employment and antitrust advice.

Shell was represented by Clifford Chance, led by senior associate Richard Tomlinson in London and partner Umberto Penco Salvi in Milan.

The multi-jurisdictional, multi-disciplinary Hogan Lovells team comprised:

  * Corporate M&A: Leah Dunlop, Antonio Di Pasquale (partners, Rome);  Ben Higson (partner, London); Simone Cucurachi (senior associate, Rome) and Alex McPherson (senior associate, London)
  * Commercial Law: Marco Berliri (partner, Rome) and Paola La Gumina (senior associate, Rome)
  * Environmental and Energy Regulatory: Francesca Angeloni (partner, Rome); Francesca Covone (of Counsel, Rome) and Gaia Gelera (senior associate, Rome)
  * Tax: Fulvia Astolfi (partner, Rome); Serena Pietrosanti (of Counsel, Rome); and Fiona Bantock (senior associate, London)
  * Employment: Vittorio Moresco (partner, Milan)
  * Antitrust: Gianluca Belotti (partner, Rome) and Eugenia Gambarara (associate, Rome); and Matthew Levitt (partner, Brussels) and Jan Blockx (senior associate, Brussels).
  * Litigation: Filippo Chiaves, Of Counsel (Milan) and Andrea Atteritano, Of Counsel (Rome).