Shearman & Sterling advised a group of banks led by Commerzbank AG on a financing of Euro 455 million for the acquisition of a cavern portfolio by an investment fund structured by IVG Institutional Funds GmbH. These caverns – which are still to be developed for the most part – are oil and gas deposits that are leased to, inter alia, companies in the energy sector.
In 2008, Shearman & Sterling advised a group of banks regarding the financing for the acquisition of a cavern portfolio with a volume of up to Euro 320 million.
The banks were represented by Shearman & Sterling partner Esther Jansen (Frankfurt-European Finance) and associates Matthias Laier (Frankfurt-European Finance) and Lars Neumann (Munich-European Finance).
