Memery Crystal lines up alongside Freshfields on £532m takeover deal
London boutique Memery Crystal has won a role opposite Freshfields Bruckhaus Deringer on the £532.1m acquisition of Emerald Energy by China's Sinochem. The firm is a longstanding adviser to FTSE 250 company Emerald Energy and is fielding a team of lawyers led by London corporate partner Andrew Titmas on the deal. The mandate sees the firm advising opposite Freshfields, which was drafted in to act for state-owned Sinochem on Sinochem Resources UK's recommended acquisition of Emerald Energy, which is still awaiting shareholder approval.
August 13, 2009 at 08:23 AM
2 minute read
London boutique Memery Crystal has won a role opposite Freshfields Bruckhaus Deringer on the £532.1m acquisition of Emerald Energy by China's Sinochem.
The firm is a longstanding adviser to FTSE 250 company Emerald Energy and is fielding a team of lawyers led by London corporate partner Andrew Titmas on the deal.
The mandate sees the firm advising opposite Freshfields, which was drafted in to act for state-owned Sinochem on Sinochem Resources UK's recommended acquisition of Emerald Energy, which is still awaiting shareholder approval.
The magic circle firm's team is being led by London corporate partner Graham Watson, with other partners involved including Beijing corporate partner Chris Wong, Beijing antitrust partner Michael Han and London employment partner Nicholas Squire.
The deal marks Sinochem's first public takeover.
Watson said: "We are delighted to be advising Sinochem on this landmark deal – Sinochem's first public takeover offer and the first City Code offer by a Chinese state-owned enterprise for a London main market company. It marks an important further step in Sinochem's strategy to become a leading diversified global energy company."
Titmas added: "This is a very positive and successful deal- this is a good price and good result for [Emerald's] shareholders."
Emerald Energy is a UK-based oil and gas exploration and production company with operations in South America and the Middle East.
Sinochem's operations include energy, agriculture, chemicals, finance and real estate. The Chinese company first entered into the oil and gas market in 2003 after purchasing Norwegian based Atlantis for £67m. On that deal the London office of now defunct Coudert Brothers advised Sinochem.
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