BLP advises Rontec Investments on deal to acquire Total’s UK retail network
Law firm Berwin Leighton Paisner (BLP) has advised Rontec Investments on the sale and purchase agreement to acquire the majority of Total’s downstream logistics and marketing operations in the UK (comprising around 810 petrol stations, operations in the Channel Islands and Isle of Man, fuel distribution and haulage operations, a terminal at Nottingham and a partial interest in a pipeline).
Rontec Investments is a joint venture between Gerald Ronson’s forecourt business, Snax 24, investment firm Grovepoint and South African bank Investec.
Rontec has agreed to sell on 254 of the sites to Shell. All 810 petrol stations, including those acquired by Shell, will be operated by Rontec. The whole deal is expected to conclude before the end of the year.
The highly complex deal involved teams from 13 practice areas across BLP and was led by partners John Bennett, Adam Dann and Murdoch Currie. Tax advice was led by Neal Todd and Andrew Bamber ran the debt finance team. Andrew Hockley led on competition advice and Barry Gross on real estate.
Commenting on the deal, John Bennett said, “this was an exciting and multi-faceted deal with numerous principals and inter-dependencies. Our multidisciplinary team of experts and project management capabilities combined with our clients and their other advisers to deliver a great result for our clients as painlessly and efficiently as possible.”
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