Hengeler Mueller advises Centrica on formation of E&P joint venture with Stadtwerke München GmbH and Bayerngas GmbH
18. July 2017
Centrica plc, a UK-based international energy and service company, and Stadtwerke München GmbH have reached an agreement to combine Centrica‘s European oil and gas exploration and production with Bayerngas Norge AS to form a newly incorporated joint venture and create a leading independent European E&P company. Centrica will own 69 % and Bayerngas Norge’s existing shareholders, led by Stadtwerke München GmbH and Bayerngas GmbH, will own 31 % of the joint venture. The joint venture combines a complimentary mix of producing and development assets with strong positions in the UK, Netherlands, Norway and Denmark.
Hengeler Mueller is advising Centrica on the transaction in an integrated team with Best Friends law firm Slaughter and May. The Hengeler Mueller team is led by partners Matthias Hentzen and Thomas Meurer (both Corporate/M&A) and includes partner Dirk Uwer (Public Law) (all Düsseldorf) as well as associates Dominik Heß, Florian Hassner, Ute König and Benedikt Statz (all Corporate/M&A, Düsseldorf). The Slaughter and May team is led by partners Hywel Davies and Robert Innes.