United Energy Group’s $192 Million Acquisitions of Pakistan Oil and Gas Assets from OMV

Sidley is representing United Energy Group (UEG) in its acquisition of Pakistan oil and gas assets from OMV Aktiengesellschaft, an international, integrated oil and gas company based in Vienna, Austria, by acquiring the entire issued share capital of two wholly owned subsidiaries of OMV Aktiengesellschaft for an approximate consideration of €80.6 million and €77.2 million, respectively.

Completion of the transaction is pending upon satisfaction of a number of conditions, including regulatory approval.

United Energy Group Limited, an investment holding company, engages in the investment and operation of upstream oil, natural gas, and other energy related businesses. The company, led by Zhang Hong Wei, Song Yu and Zhang Meiying, is listed on the Main Board of the Hong Kong Stock Exchange and in 2017 recorded €420 Million Revenues.

The Sidley team was led by partner Tao Lan (Picture), with support from associates Gloria Wang and Joyce Hu from the Beijing office, and partner David Gartside (Finance), partner Charlie Wilson and counsel Waltter Kulvik from the Singapore office. Sidley’s Tax team, consisting of partner Oliver Currall and associates Jason Pegnall and Caleb McConnell, based in London, has also provided support for the transaction.

Involved fees earner: Tao Lan – Sidley Austin LLP; Joyce Hu – Sidley Austin LLP; Charlie Wilson – Sidley Austin LLP; Waltter Kulvik – Sidley Austin LLP; Gloria Wang – Sidley Austin LLP; David Robert Gartside – Sidley Austin LLP; Oliver Currall – Sidley Austin LLP; Jason Pegnall – Sidley Austin LLP; Caleb McConnell – Sidley Austin LLP;

Law Firms: Sidley Austin LLP;

Clients: United Energy Group;

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Author: Michael Patrini