Dentons has advised L1 Energy, the market leading global oil and gas investment fund of the LetterOne Group advised by Pamplona Capital Management, in relation to the completion and shareholder funding of its acquisition of RWE Dea AG, the oil and gas unit of RWE AG, Germany’s largest power generator, for debt and equity consideration of US$5.7 billion.
The Dentons team was led by London Corporate and PE partners Igor Krivoshekov and Eleanor Shanks with group financing matters led by partner and Head of Leveraged Finance Catherine Astruc. The lead associate on the matter was Corporate lawyer Kasit Rochanakorn. They were assisted by Corporate partner Candice Chapman, Corporate senior associates Aaron Raffel, Chris Winn and Baljeet Panesar and Finance and Banking senior associate Scott Syme and Energy partner Humphrey Douglas, with additional advice from a number of other lawyers across the firm.
Igor Krivoshekov, L1 Energy’s client relationship partner, commented:
“This was a complex and fascinating assignment for our cross-practice, international team. We worked closely with client L1 Energy’s and Pamplona’s teams to help deliver this strategic acquisition which provides a key platform for L1 Energy’s strategy, launching their upstream oil and gas interests across 14 countries.”
Chris Smith, General Counsel of L1 Energy, commented:
“Our acquisition of Dea creates a unique growth platform which combines quality upstream assets, and a highly experienced management team from Dea, with our ambitions for growth in oil and gas. Our team at Dentons, led by Igor Krivoshekov and Eleanor Shanks, was instrumental in helping us complete the transaction, and in resolving many complex challenges, and we thank them for their industry and expertise.”
Other legal advisers on the transaction include Linklaters and Skadden for L1 Energy, and Hengeler Mueller and Slaughter & May for RWE.
Source: www.dentons.com
