A&O claims Centrica coup with rare M&A role
Allen & Overy (A&O) has landed a rare corporate mandate for FTSE 100 client Centrica on its $486.4m (£242m) acquisition of energy company Newfield UK Holdings. A&O corporate partners Mark Dighero and Anna Buscall led the team advising Centrica, assisted by tax partner Brenda Coleman. The firm advised alongside Centrica energy general counsel Peter Roberts and legal counsel Sarah Townson.
September 19, 2007 at 01:41 PM
2 minute read
Allen & Overy (A&O) has landed a rare corporate mandate for FTSE 100 client Centrica on its $486.4m (£242m) acquisition of energy company Newfield UK Holdings.
A&O corporate partners Mark Dighero and Anna Buscall led the team advising Centrica, assisted by tax partner Brenda Coleman. The firm advised alongside Centrica energy general counsel Peter Roberts and legal counsel Sarah Townson.
The instruction is a boost for the magic circle law firm, which has advised Centrica primarily on finance and energy matters since securing its first M&A instruction from the client in 2002, when Centrica acquired Dynegy Storage and Dynegy Onshore Processing UK in a £316m deal.
Relationship partner David Wootton commented: "The relationship goes back in total around 10 years. This is one of the bigger M&A deals we have done [for the client]."
Centrica instructs a range of top firms including Slaughter and May, Herbert Smith and Eversheds, while Linklaters advised on its £1.5bn sale of the Automobile Association in 2004.
The latest deal, announced on 17 September, will see Centrica take an 85% interest in the Grove gas field and an 80% interest in the Seven Seas gas development as well as another project in the North Sea.
Newfield is a subsidiary of Newfield Exploration Company, which was advised by City-based LeBoeuf Lamb Greene & MacRae corporate partner Christopher Prior.
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