27 February 2013
- John Wilkins, David Harkness, Nigel Howorth, Catherine McCarthy, David Brinton, Graham Phillips
- London, Paris, Amsterdam, Madrid, Washington D.C., New York
Clifford Chance advises Shell on US$4.4 billion acquisition of part of Repsol´s LNG portfolio
International law firm Clifford Chance advised Royal Dutch Shell plc on its acquisition of part of Repsol S.A.´s LNG portfolio outside of North America for a cash consideration of US$4.4 billion. The transaction includes plant capacity and supply positions in Peru and Trinidad and Tobago, a 25 per cent stake in a power plant in Spain and a material LNG marketing and trading operation. Shell will also assume and consolidate balance sheet liabilities predominantly reflecting leases for LNG ship charters of currently US$1.8 billion. The transaction is expected to close in the second half of 2013 or early 2014, subject to regulatory approvals and other conditions precedent.
The Clifford Chance team was led by London Corporate Partner Kathy Honeywood. Clifford Chance advised on all aspects of the transaction, providing integrated English, Spanish, New York and Dutch law advice as well as specialised antitrust, employment, environmental and tax advice.