Practice Areas - Corporate and M&A Law Firms and Lawyers
| Deal Date: | 20-09-2011 | Practice Area: | Corporate and M&A |
| Deal Title: | Sonatrach Acquisition of Stake in Gas Natural Fenosa | Industry: | Oil & Gas Producers |
| Description: |
Gas Natural Fenosa recently finalized the increase of its share capital, enabling the Algerian national oil and gas company, Sonatrach, to become a shareholder holding 3.85% of the leading Spanish gas company. Sonatrach has fully subscribed the increase of 38.183.600 shares, for a total amount of 514.7 million of euros, at 13.4806 euros per share. This share capital increase comes within the framework of the agreements entered into in June 2011 between Gas Natural Fenosa and Sonatrach, settling their disputes regarding the price applicable to the Algerian gas supplied to Spain.
Sonatrach is the largest oil and gas company in Algeria and Africa. The company operates in exploration, production, pipeline transportation and marketing of hydrocarbons and by products.
In this transaction, Shearman & Sterling, with a team composed of Guillaume Isautier (partner) and Olivia Depret-Bixio (associate) advised Sonatrach.
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| Financial Center: | Paris | Value: | 500.01-1000.00 |
| Advised Party: | Acquiror | Law Firm | Shearman & Sterling |
| Target Company Jurisdiction: | Spain | Acquiror Jurisdiction: | Algeria |
| Classification: |
Strategic Buyer Acquisitions Private Company |
Lawyer | Guillaume Isautier |
