Practice Areas - Project Finance and Infrastructure Law Firms and Lawyers
| Deal Date: | 23-07-2014 | Practice Area: | Project Finance and Infrastructure |
| Deal Title: | Sale of an Interest in Salamander Energy Bualuang, Thailand | Industry: | Oil & Gas Producers |
| Description: |
On 21 July 2014, Salamander Energy plc (Salamander) announced the signing of a definitive share sale and purchase agreement with SONA Petroleum Berhard for the USD280 million disposal of an effective 40% working interest in the B8/38 concession containing the Bualuang oil field and the surrounding G4/50 concession, both located in the Gulf of Thailand. The transaction is to be effected via a share sale to SONA of an interest in Salamander Energy Bualuang Limited, a wholly-owned subsidiary of the Salamander group, which holds a 60% interest in the B8/38 concession.
The transaction remains conditional, amongst other things, on approval by Salamander's shareholders and on SONA receiving regulatory approval from the Securities Commission of Malaysia and approval by its shareholders.
Clifford Chance advised on all English law aspects of this transaction and also has also been advising on Salamander's formal sale process under the UK Takeover Code which was announced by Salamander on 1 May 2014 and was concluded at the same time the acquisition was announced.
The Clifford Chance team was led by natural resources M and A partner David Lewis, supported by Ciaran Healy and Ruth Paul.
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| Financial Center: | London | Value: | 0.00-0.00 |
| Advised Party: | Seller | Law Firm | Clifford Chance |
| Assets Jurisdiction | Thailand | Purchaser Jurisdiction | United Kingdom |
| Classification: |
Transfer of Infrastructure Assets Oil & Gas Assets |
Lawyer | David Lewis |
