SNR Denton has successfully advised PETRONAS International Corporation Limited on the sale completion of Star Energy Group Limited to IGas Energy plc for £110 million.

The sale by PETRONAS International Corporation Limited, a Fortune Global 500 company, includes the substantial UK onshore oil production assets of Star Energy but excludes the gas storage business, which remains in the PETRONAS portfolio. The deal constituted a reverse takeover under the AIM Rules.

SNR Denton’s team was led by Humphrey Douglas, a partner in the Energy, Infrastructure and Project Finance team and supported by corporate partner Richard Barham, tax partner Alex Thomas, employment partner Pauline McArdle, corporate senior associate Juliette Seddon and lawyers Daniel Stock and Ciaron Boyle.

Humphrey Douglas, energy and project finance partner at SNR Denton, commented: “This is a significant energy deal for the UK’s onshore production industry and we are delighted to have had this opportunity to work on such an important deal for PETRONAS in delivering the next chapter of its European strategy.”