BLP advises Hellenic Petroleum on $151m disposal to GDF Suez
Berwin Leighton Paisner (BLP) advised Hellenic Petroleum on the $151m (€120m) disposal of its interests in oil and gas exploration and production rights in Libya to GDF Suez. This deal demonstrates the firm’s growing expertise in Libya, which has developed as a result of BLP’s energy expertise, finance credentials and relationships with local counsel.
Hellenic Petroleum, the largest company in Greece, operates four refineries in Greece and over 1,500 gas stations throughout Europe. Its other businesses include petrochemical production, oil and gas exploration, and infrastructure development.
The BLP team acting on this key transaction were Projects partner Adam Dann, with associate Hugh Roberts assisting. The firm was assisted by one of its preferred firms in the region, North Africa Advocates.
Commenting on the deal, Adam Dann said: “The deal represents the first transfer of oil and gas exploration and production rights in Libya for some years and builds upon the firm’s excellent relationship with Hellenic Petroleum. This transaction, together with our existing expertise in this jurisdiction and our relationships with local counsel, puts BLP in an excellent position to assist with transactions in Libya.”
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