Energy & Natural Resources in Europe

Experience

    • VINCI Energies in its acquisition of Horlemann Group.
    • Nornickel in its $1 billion Eurobond offering of 4.10% notes due 2023.
    • Perenco Ecuador, prevailing on novel jurisdictional and merits issues in an ICSID arbitration arising out of the Republic of Ecuador’s unilateral increase of its participation to 99% of all revenues from oil sales above a fixed “reference price” and its declaration that Perenco’s contracts had come to an end. Perenco is now entitled to approximately US$435 million, net of cost recovery and other factors, which is the largest compensation amount that any investment tribunal has awarded against Ecuador for its imposition of Law 42.
    • An international mining group in its ongoing tax dispute in the context of development agreements with the Government of Zambia.
    • Clayton, Dubilier & Rice in its acquisitions of Brand Energy and Harsco Infrastructure in a combined transaction valued at $2.5 billion.
    • Capital International and Acon Investments in their acquisition of Vetra Energia, S.L., an oil and gas exploration and development company operating primarily in Colombia.
    • General Electric in due diligence matters relating to its $3.2 billion acquisition of Converteam.
    • Occidental Petroleum Company and Occidental Exploration and Production Company (“Occidental”) in an ICSID arbitration, winning one of the largest ever BIT awards, $1.1 billion ($1.4 billion including interest). The filing of the claim was made two days after Ecuador terminated all of Occidental’s exploration and production rights and seized all of its assets in the country. Ecuador and Occidental have arranged for payment of this award.
    • Exxon Mobil Development Company and its subsidiary Esso Exploration & Production Nigeria in challenging the constitution and jurisdiction of a tribunal in arbitration proceedings.
    • Poweo in corporate restructuring with its controlling shareholders.
    • HarbourVest Partners in the acquisition of Premetalco through a co-investment with Nova Capital Management Limited.
    • Mitsui in its joint venture with The Dow Chemical Company to produce biopolymers made from renewable, sugarcane-derived ethanol in Brazil.
    • Schneider Electric in its $2 billion acquisition of Telvent GIT SA, a software and solutions provider to the electricity, water, transportation and oil and gas industries.
    • Schneider Electric in its acquisition of Lee Technologies, a U.S.-based service provider specializing in large-scale data centers in the North American market.
    • An aluminum manufacturer in an ICC arbitration claim for breach of an alleged alumina sale and purchase contract.
    • Schneider Electric in its acquisition of Summit Energy Services, a leader in outsourced energy procurement and sustainability services to industrial, commercial and institutional enterprises.
    • Areva and HSBC in their €310 million block trade of Safran shares.
    • Grand China Logistics Holdings in its acquisition of a majority interest in a heavy transport shipping company in Norway valued at around $150 million.
    • Schlumberger in its $1.1 billion acquisition of Geoservices.
    • Poweo in its €75 million capital increase.
    • Ripplewood in its €532 million sale of AEG Power Solutions to Germany1 Acquisition.
    • A Canadian oil company in an ICC arbitration over the construction of a pipeline, road and export terminal in the Middle East.
    • GRTgaz, subsidiary of Gaz de France, a gas transmission operator, in its investment in PowerNext, a power trading exchange.
    • Rank Group in the $1.6 billion credit facility for its acquisition of the packaging assets of Alcoa.
    • Gaz de France in the sale by Saipem S.A. of its stake in Gaztransport & Technigaz SA to Hellman & Friedman LLC.
    • First Reserve Corporation in its establishment of Syndicate 2243 at Lloyd’s in partnership with C.V. Starr.
    • HSBC, Oddo & Cie and Société Générale in its €240 million offering by Theolia of OCEANEs.
    • Poweo in a €150 million rights offering.
    • Deutsche Bank Securities, as financial adviser to Rio Tinto, in its $38 billion acquisition of Alcan.
    • Goldman Sachs in its investment in the debt of Eggborough Power, a subsidiary of British Energy under restructuring.
    • AXA Private Equity in its co-investment with Kohlberg, Kravis, Roberts in the $45 billion buyout of TXU Corp.
    • An oil and gas company in an ICC arbitration in London arising from disputes with a drilling contractor in relation to gas exploration operations in South America.
    • Phelps Dodge in obtaining merger control approval in the EU, and various other jurisdictions globally, in respect of in its $26 billion merger with Freeport-McMoRan Copper & Gold, forming the world’s largest publicly traded copper company.
    • Poweo in the sale of Verbund’s stake to Direct Energie and subsequent merger.
    • Nord Est in its sale of Société Denain Anzin Minéraux to Imerys.
    • Poweo in its initial public offering on Euronext Paris.
    • Two Japanese companies in their joint venture and, as a consortium, acquisition of 21% interest in the Goro Nickel Development Project, a $1.9 billion project to develop a cobalt-nickel mine in the Goro area of New Caledonia and construct a hydro-pressue acid leaching facility.
    • Lehman Brothers International (Europe) as placement agent for the $150 million offering by The Beacon Group, a U.S. private equity sponsor, of its shares in Compagnie Générale de Géophysiques, a French company listed on Euronext and the New York Stock Exchange, representing approximately 15% of the outstanding shares of CGG.
    • Culligan Finance in its €185 million offering of 8% senior subordinated notes due 2014 in connection with an acquisition.
    • Clayton, Dubilier & Rice in its $610 million acquisition of Culligan International from Veolia Environnement SA.
    • Jelmoli in the private placement of $190 million of senior notes and the proposed restructuring and ultimate prepayment of its senior notes.
    • Lime Rock Partners in its $40 million purchase, with SGAM/4D Global Energy Development Capital Fund, of Serimer Dasa from Stolt Offshore S.A. Debevoise acted as U.S. tax counsel.
    • Drax Power, which operates Europe’s largest coal-fired power station and supplies 8-10% of England’s electricity, in its restructuring of £1.3 billion in senior secured debt, through simultaneous schemes of arrangement in England, the Cayman Islands and Jersey and an ancillary proceeding in New York. That transaction was named “Restructuring Deal of the Year” by both Project Finance Magazine and Acquisitions Monthly.
    • HarbourVest Partners in its purchase of a minority interest in the holding entity for Ontex NV.
    • Sithe Energies in its $323 million sale of a 34% interest in the company by Vivendi Universal, S.A. to Apollo Energy LLC.
    • Credit Suisse and Salomon Smith Barney as lead underwriters in the $150 million offering by IESI of 10¼% senior subordinated notes due 2012.
    • Goldman Sachs, as financial co-advisor to Séché Environnement S.A., in the sale of Séché Environnement to TREDI Environnement.
    • J.P. Morgan Securities and BNP Paribas as joint lead manager and joint bookrunner, respectively, in the €794 million issuance of convertible bonds listed on the Premier Marché by Technip-Coflexip.
    • EVM, Brazil - the lenders on the leveraged lease financing of development of Espadarte, Voador and Marimba oil fields in Campos Basin of Brazil.
    • Thames Water in its $9 billion sale to RWE AG.
    • ENI S.p.A. in its $1.3 billion acquisition of British Borneo Oil & Gas plc.
    • Groupe Bruxelles Lambert and affiliated companies in the sale of a controlling interest of Petrofina to Total.
    • Hamon & Cie (International) in its acquisition of the Research-Cottrell business of Air & Water Technologies Corporation.
    • Merrill Lynch as lead underwriter in the $500 million offering of 7.25% notes due 2027 by Saga Petroleum a.s.
    • State Privatization and Holding Company of the Republic of Hungary in the $298 million offering of global depositary shares by MOL Magyar Olaj- és Gázipari Rt.
    • MOL and the State Privatization and Holding Company of the Republic of Hungary in the $250 million initial public offering of ordinary shares and global depositary shares of MOL Magyar Olaj- és Gázipari Rt.
    • Bowthorpe in its $36 million acquisition of Keystone Carbon Company.
    • Thames Water in its $923 million acquisition of E'Town Corporation.
    • Pueblo Viejo Dominicana, a joint venture between Barrick Gold and Goldcorp, in a dispute with the Government of the Dominican Republic regarding the Pueblo Viejo gold, silver and copper mine, which is reported to be the largest foreign investment in the Dominican Republic.
    • Tethyan Copper Company in its US$6 billion arbitration win against the Islamic Republic of Pakistan, which is the second-largest ICSID award ever rendered.
    • A leading oil & gas company in FCPA matters in Asia.
    • A major London-based mining company and its African subsidiary, one of the largest mining and metals companies in Africa, in four parallel LCIA arbitrations relating to a $500 million dispute with a major contractor over short delivery and other alleged breaches of a contract for mining services at an open cast copper mine in Southern Africa.
    • Three Indian companies in two joint venture disputes brought against them by several Spanish entities. The disputes relate to a development of a sea water desalination plant in South India and are arbitrated under the auspices of the International Chamber of Commerce (ICC). Indian law applies as the substantive governing law. Lord Goldsmith QC acts as the leading counsel for the Respondents, in which role he is supported by both D&P team and local Indian counsel.