Skadden and Norton Rose secure $3bn energy sale in Kazakhstan
Skadden Arps Slate Meagher & Flom has landed a role advising on two acquisitions in Kazakhstan thought to be worth about $3bn (£2.06bn) in total. The New York leader advised Kazakhstan's largest privately-owned oil company, JSC MangistauMunaiGaz (MMG) and its holding company Central Asia Petroleum (CAP) on the sale of a 100% stake in MMG to Mangistau Investments - a joint venture between China National Petroleum Corporation (CNPC) and KazMunaiGas (KMG).
April 29, 2009 at 10:43 PM
2 minute read
Skadden acts on sale of Kazakhstan's privately-owned oil companies
Skadden Arps Slate Meagher & Flom has landed a role advising on two acquisitions in Kazakhstan thought to be worth about $3bn (£2.06bn) in total.
The New York leader advised Kazakhstan's largest privately-owned oil company, JSC MangistauMunaiGaz (MMG) and its holding company Central Asia Petroleum (CAP) on the sale of a 100% stake in MMG to Mangistau Investments – a joint venture between China National Petroleum Corporation (CNPC) and KazMunaiGas (KMG).
The sale saw Skadden drafting in a large multi-jurisdictional team led by London corporate partner Hunter Baker and Paris co-managing partner Chris Baker.
The pair were assisted by M&A partner Lorenzo Corte, corporate finance partner Rich Muglia and banking partner Clive Wells in London, as well as Brussels counsel Nik Peristerakis and Beijing corporate partner Peter Huang.
Skadden picked up the instruction through its relationship with CAP and MMG's financial advisers, including Bank of America, Merrill Lynch, JP Morgan and Morgan Stanley.
CNPC turned to US firm Dewey & LeBoeuf for advice, with finance partner Brian Zimbler taking the lead role. Meanwhile, Norton Rose was drafted in to advise KMG, with London corporate finance partner Simon FT Cox acting.
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