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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…
Lawyers Weekly
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.
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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.
