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Deal Date: 23-10-2012 Practice Area: Corporate and M&A
Deal Title: Mercuria Energy/Sinomart KTS Development Joint Venture Industry: Oil Equipment, Services & Distribution
The international law firm Clifford Chance advised Mercuria Energy Asset Management B.V. (“MEAM”), a wholly owned subsidiary of Mercuria Energy Group Limited (“Mercuria”), on forming a new international joint venture in liquid bulk storage with Sinomart KTS Development Limited (“Sinomart”), a wholly owned subsidiary of Sinopec Kantons Holdings Limited (“Sinopec Kantons"). This week the two parties announced the signing of binding agreements to form the joint venture. The agreed transaction includes the sale by MEAM of a 50% equity interest in Vesta Terminals B.V. (“Vesta Terminals”) for a total consideration of EUR128.6 million to Sinomart. The Clifford Chance Amsterdam team that advises MEAM is headed by David Griston (Partner) and includes Jonne Buijtels (Associate), Mark Loefs (Associate) and Luuk Wieringh (Trainee Lawyer).
Financial Center: Amsterdam Value: 100.01-500.00
Advised Party: Joint Venture Party Law Firm
JV Party Jurisdiction Netherlands JV Party Jurisdiction Netherlands
Classification: Joint Ventures Continuing Business Partnership
Lawyer David Griston