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Bakers on multi-billion dollar oil merger

Bakers on multi-billion dollar oil merger

BAKER & MCKENZIE has aligned various practice groups from across its international offices in a US$2.25 billion ($2.4 billion) merger between West Siberian Resources Ltd and Alliance Oil.…

BAKER & MCKENZIE has aligned various practice groups from across its international offices in a US$2.25 billion ($2.4 billion) merger between West Siberian Resources Ltd and Alliance Oil. Alliance Oil were advised by Clifford Chance.

A multi-jurisdictional team involving lawyers in the firm’s London, Moscow, Stockholm and Bermuda offices advised the client West Siberian Resources, creating what Bakers has labelled a “leading independent, fully-integrated oil company operating in Russia and Kazakhstan”.

West Siberian Resources, a Bermuda-incorporated independent oil company listed on the OMX Nordic Exchange in Stockholm, produces oil, develops oil fields and conducts oil exploration. It operates in three of Russia’s richest oil regions, including Tomsk in Western Siberia, Timan-Pechora and Volga-Urals. Alliance Oil is a Russian oil company engaging in crude oil refining and marketing of refined products.

The transaction documents were governed by English law and prepared by the multi-jurisdictional team. The Baker & McKenzie London team was led by partners Hugh Stewart and Michael Caro, and included associates James Reed and Robert Adam. The Stockholm team was led by Bo Lindqvist and Cecilia Bjelle. The Moscow team was led by Sergei Voitishkin and Alexey Frolov. Anthony Smith of Conyers Dill & Pearman advised on Bermuda law issues.

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