Slaughter and May and Cooley advise on British shale gas deal
The £30m deal sees Britain's largest shale gas developer IGas grant access to its sites in England
March 12, 2015 at 06:33 AM
2 minute read
Cooley's London office and Slaughter and May have secured roles on IGas Energy's gas deal with Swiss company INEOS designed to expand IGas' exploration efforts.
The acquisition sees INEOS take an interest in 10 on shore licences across the UK. In addition the company has committed to an investment on £138m for developing various shale gas fields across England.
Cooley is advising IGas on the deal with a team led by corporate Ed Lukins who has advised the company on various matters since 2009. Employment partner Ann Bevitt is also advising on the deal alongside IGas' in house legal team.
Lukins and Bevitt were part of the five-strong team who joined Cooley's London office in January from technology firm Morrison Foerster (MoFo).
"This is clearly a deal which reinforces the positon of IGas as leading player in the shale gas space and its ability to secure world class partners is a validation of a business model which seeks to secure the future of the UK as a self-sufficient energy consumer," said Lukins.
INEOS turned to trusted legal adviser Slaughter and May which fielded a team led by corporate partners Andrew Johnson and Hywel Davies. Tax advice was provided by London partner William Watson.
Cooley entered the London market this year launching a 55-lawyer strong office including partners from Edwards Wildman and MoFo.
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