Monday, May 15, 2017

Shalakany advises Engie on E&P asset sale in Egypt - ENTERPRISE / SHALAKANY LAW

Monday, 15 May 2017

M&A Watch- Shalakany Law announced it assisted Engie as the sole sell side legal advisor in the transaction to sell its Egyptian E&P assets to Neptune Oil & Gas. Private equity-backed Neptune had agreed to acquire a majority stake in Engie’s E&P assets globally for USD 3.9 bn on Thursday, Reuters reported, with the expectation that the deal, which includes assets in Egypt, Algeria, Germany, and the North Sea will close in 1Q2018.

Aly El Shalakany, the lead partner from Shalakany acting on the transaction, said: “We are very pleased to have successfully assisted Engie, a long standing client of the firm, with this strategic disposal, which marks a key step in its shift away from oil and gas to more regulated businesses in the power sector.”