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G+T lead Polish/Nigerian oil deal

G+T lead Polish/Nigerian oil deal

Gilbert + Tobin has advised Kulczyk Oil Ventures Inc on the proposed acquisition by Neconde Limited (an international consortium) of a 45 per cent interest in Oil Mining Lease 42, an oil and gas…

Gilbert + Tobin has advised Kulczyk Oil Ventures Inc on the proposed acquisition by Neconde Limited (an international consortium) of a 45 per cent interest in Oil Mining Lease 42, an oil and gas field in Nigeria, from Shell Petroleum, Total and Agip.

Corporate advisory partner Andrew Bullock and finance partner Nick Grambas led the cross-functional transaction team, which included senior lawyer Hiroshi Narushima.

Kulczyk Oil Ventures Inc will be the Technical Partner to Neconde Limited and is being bridge-financed into the transaction by its majority shareholder and consortium member, Kulczyk Investments S.A..

Gilbert + Tobin advised on all aspects of the transaction including the acquisition documents, the acquisition financing package for Neconde Limited, the bridge-financing and associated trust and put & call holding structure, the preparation of project documents and the consortium joint venture arrangements.

"It's not every day you act for a Canadian company listed in Poland looking to acquire significant oil assets in Nigeria," said Bullock.

This transaction follows on from Gilbert + Tobin's role acting for Royal Dutch Shell on the partial sale of its stake in Woodside Petroleum for $3.3 billion. Gilbert + Tobin is also acting for Kulczyk Oil Ventures Inc's Ukraine subsidiary, Kub-Gas LLC, on a proposed US$40 million project financing facility from the European Bank for Reconstruction and Development.

CMS Cameron McKenna acted for Kulczyk Investments.

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G+T lead Polish/Nigerian oil deal
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