Shalakany announced that Neptune Oil & Gas has agreed to acquire a majority stake in French utility Engie’s exploration and production business for $3.9 billion.
Shalakany assisted Engie as the sole sell side legal advisor for all Egyptian assets on this transaction, which is one of the largest global acquisitions in the Oil & Gas sector in 2017 and marks the latest entry of private equity backed firms in the international energy sector.
Aly El Shalakany, the lead partner from Shalakany acting on the transaction, said: “we are very pleased to have successfully assisted Engie, a long standing client of the firm, with this strategic disposal, which marks a key step in its shift away from oil and gas to more regulated businesses in the power sector”.
Omar Sherif, the lead senior lawyer from Shalakany on the transaction, said: “we were able to successfully leverage our significant cross-border Oil & Gas M&A experience and expertise to assist Engie with all the Egyptian legal aspects of this complex transaction, which was key to achieving the successful signing of this deal”.
(Shalakany Law Office Press Release)