Linklaters and CC head up Shell's $6.7bn LNG assets acquisition

Energy giant to acquire assets from Spanish company Repsol

Linklaters and Clifford Chance (CC) have both landed top roles on oil giant Shell’s $6.7bn (£4.4bn) acquisition of assets from Spanish energy company Repsol.

The deal has seen Shell acquire liquefied natural gas (LNG) supply positions in Peru and Trinidad & Tobago, as well as a 25% stake in a Spanish power plant, for $4.4bn (£2.9bn) in cash, while taking on $2.3bn (£1.5bn) in financial leases and debt.

CC is representing Shell with a team led by City corporate partner Kathy Honeywood, alongside banking partners John Wilkins and Richard Tomlinson, tax partner David Harkness, planning partner Nigel Howorth, employment partner Chris Goodwill and Paris antitrust partner Oliver Bretz.

Madrid M&A partner Jose Maria Fernandez-Daza and US partners Catherine McCarthy, William Wallace and David Brinton make up the rest of the CC team.

Linklaters is advising Repsol with a team led by Madrid corporate partner Alejandro Ortiz, managing associate Lara Hemzaoui and US energy partner Matthew Hagopian. 

Hagopian said: “It was a challenge to co-ordinate the sale of these assets since the nature of the LNG business is dependent on a delicate string of closely intertwined contracts up and down the chain, unlike that of any other business.”

Linklaters’ London office provided support in the form of tax partner Mark Kingstone, environment partner Vanessa Havard-Williams and corporate partners Clodagh Hayes and Nick Garland.

The firm’s Frankfurt and Amsterdam offices also provided advice to Repsol.

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