INEOS’s acquisition of the entire Oil & Gas Business of DONG Energy A/S

Slaughter and May has advised INEOS in connection with its proposed acquisition of the entire Oil & Gas Business of DONG Energy A/S.

Under the terms of the agreement INEOS will pay DONG Energy a headline price of $1.05 billion plus contingent consideration of up to $250 million.

The business being acquired includes oil and gas assets in Denmark, Norway and the UK which produced 100,000 barrels of oil equivalent per day in 2016 and with around 570 million barrels of oil equivalent of commercial and potential reserves. It is expected that around 440 staff will transfer to INEOS on completion. The acquisition will further strengthen INEOS’ existing upstream activities, which were founded on the acquisition of UK portfolios from DEA and Fairfield in 2015, and more recently the proposed acquisition of the Forties Pipeline System from BP, on which Slaughter and May also advised.

Slaughter and May advised INEOS with a Corporate team led by Hywel Davies (partner, picture), assisted by Francesca Harris (associate) and Archi Campbell (associate); on Finance aspects acted Caroline Phillips (partner) and Ivo Stourton (associate); on Pensions and Employment law acted Charles Cameron (partner), Lucy Duane (associate) and Simon Clark (associate); on Competition law acted Claire Jeffs (partner), Aurora Luoma (senior counsel), Helen Townley (associate) and Andrew Gilbert (associate); on Tax matters acted Sara Luder (partner), Owen Williams (associate) and Tanja Velling (associate); on IP/ IT matters acted Richard McDonnell (associate).

Involved fees earner: Hywel Davies – Slaughter and May; Francesca Harris – Slaughter and May; Archi Campbell – Slaughter and May; Caroline Phillips – Slaughter and May; Ivo Stourton – Slaughter and May; Charles Cameron – Slaughter and May; Lucy Duane – Slaughter and May; Simon Clark – Slaughter and May; Claire Jeffs – Slaughter and May; Aurora Luoma – Slaughter and May; Helen Townley – Slaughter and May; Andrew Gilbert – Slaughter and May; Sara Luder – Slaughter and May; Owen Williams – Slaughter and May; Tanja Velling – Slaughter and May; Richard McDonnell – Slaughter and May;

Law Firms: Slaughter and May;

Clients: Ineos;