NautaDutilh assists Centrica with E&P joint venture
NautaDutilh assisted Centrica plc (Centrica) with the creation of a joint venture with Bayerngas Norge AS (Bayerngas Norge). Centrica plc and Stadtwerke München GmbH (SWM) reached an agreement to combine Centrica’s European oil and gas exploration and production (E&P) business with Bayerngas Norge to form a newly incorporated joint venture and create a leading independent European E&P company.
The joint venture will create a strong and sustainable European E&P business by combining Centrica’s production profile with Bayerngas Norge’s portfolio. The joint venture will comprise Centrica’s assets in the UK, Netherlands and Norway and Bayerngas Norge’s assets in the UK, Norway and Denmark. Centrica will contribute the whole of its European E&P to the joint venture, in exchange for a 69% share in the joint venture. The existing shareholders of Bayerngas Norge, led by SWM and Bayerngas GmbH, will contribute 100% of the shares in Bayerngas Norge in exchange for a 31% share of the joint venture, held through Bayerngas HoldCo.
The NautaDutilh team consists of Jaap Jan Trommel, Hilleke Terpstra, Lisa Schoenmakers (Corporate Energy/M&A), Albert van der Kolk, Joyce Trebus (Employment), Edward Rijnhout (Tax) and Stephanie Schoonhoven (Notarial).
Read the press release.
The NautaDutilh team worked together with Slaughter and May (London).