Middletons Lawyers acted for Coles Myer in its commercial agreements to create Virgin entertainment destinations in Myer stores. In a progressive roll out from 29 August, the alliance will see Brazin operate Myer CD/DVD/video departments using its own staff and inventory under the Virgin name. Brazin will also manage Megamart’s CD and DVD inventories under the Megamart brand name. Middletons’ team was led by M&A partner Craig Sanford and property & development partner Justin Lethlean. Sanford and Lethlean were supported by David Thomas, Des Dodds, Victoria Pellicano, Piers O’Brien, Adam Peppinck and Nicholas Manuell. Gilbert & Tobin acted for Brazin.
Jones Day advised SPC Production Company Ltd., a wholly-owned subsidiary of Singapore Petroleum Company Limited, on its acquisition from El Paso Production Oil & Gas Company of the entire issued and paid-up share capital of Coastal Indonesia Sampang Ltd. (Coastal) for US$23.2 ($33) million plus working capital. Coastal owns a 40 per cent working interest in the Sampang Production Sharing Contract (Sampang PSC), located in the Madura Strait, offshore from East Java, Indonesia. The Sampang PSC is operated by Santos and contains the Oyong oil and gas field, which is expected to start producing this year 5.7 million barrels of oil and 90 billion cubic feet of gas over a nine-year period. Partner David Longstaff (Singapore) led a team of lawyers in Singapore and Hong Kong advising on all aspects of the transaction.
Linklaters advised on the privatisation of Romania’s national petroleum company Petrom SA (Petrom), the largest privatisation in Romania and south-eastern Europe, which was sold to OMV Aktiengesellschaft. Linklaters was part of a consortium of advisors appointed by the seller and led by Credit Suisse First Boston and ING Barings. OMV’s offered price values the company at 2.2 billion euros ($3.7 billion). The value of the transaction is 1.4 billion to 1.5 billion euros for 51 per cent of Petrom.