INEOS’ US$150 Million Acquisition Of Oil And Gas Interests In Denmark From Hess Corporation

In UK Slaughter and May, advised on the matter.

Slaughter and May advised Ineos with a team including Charles Cameron (Human Capital), Padraig Cronin (Human Capital), Hywel Davies (Picture – Corporate M&A), Anna Lyle-Smythe (Competition Law), Gareth Miles (Tax M&A and Deal Advisory).

INEOS acquired oil and gas interests in Denmark from Hess Corporation for US$150 million.

This is the first deal to be announced by INEOS following the formation of the new INEOS Energy business which incorporates INEOS’ oil and gas business.

As part of the deal INEOS will acquire 61.5% of the Syd Arne oil field, currently operated by Hess, which complements the 36.8% share INEOS already holds in the field. INEOS will also acquire 4.8% of the Solsort field, which is already operated by INEOS.

The transaction is subject to the receipt of regulatory approvals and is expected to close in the third quarter of this year.

Slaughter and May worked closely with Jonny Ginns and Dan Lawrie from the in-house legal team at INEOS. Slaughter and May’s team included Hywel Davies (Picture), Partner, Warwick Brennand, Associate, Jack Hull, Associate, Charles Cameron, Partner, Padraig Cronin, Partner, Adam Gilchrist, Associate, Richard Surtees, Associate, Anna Lyle-Smythe, Partner, Chris Edgar, Associate, Samantha Brady, Senior Counsel,, Richard McDonnell, Associate, Ben Allen, Associate, Gareth Miles, Partner, Kyle O’Sullivan, Associate and Laura Ridley, Associate.

Involved fees earner: Ben Allen – Slaughter and May; Samantha Brady – Slaughter and May; Warwick Brennand – Slaughter and May; Charles Cameron – Slaughter and May; Padraig Cronin – Slaughter and May; Hywel Davies – Slaughter and May; Chris Edgar – Slaughter and May; Adam Gilchrist – Slaughter and May; Jack Hull – Slaughter and May; Anna Lyle-Smythe – Slaughter and May; Richard McDonnell – Slaughter and May; Gareth Miles – Slaughter and May; Kyle O’Sullivan – Slaughter and May; Laura Ridley – Slaughter and May; Richard Surtees – Slaughter and May;

Law Firms: Slaughter and May;

Clients: Ineos;

Author: Giulia Di Palma