Vinson & Elkins and Linklaters have the lead roles advising on the $3.5 billion acquisition by China Petroleum and Chemical Corp. Ltd., better known as Sinopec, of Brazilian assets of Portuguese oil and gas company Galp Energia SGPS S.A.
Lisbon-based Galp will sell 30 percent of its Brazilian assets to state-owned Sinopec, including interests in four deep-water blocks of the Atlantic Ocean’s oil-rich Santos Basin. The deal, which is subject to Chinese governmental approval, will see Sinopec subscribe to new shares issued by Galp.
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