Rosneft closes acquisition of 50% in Ruhr Oel GmbH

 

MOSCOW - Allen & Overy today announced that it has been advising Rosneft Oil Company in respect of closing of its acquisition from Petróleos de Venezuela S.A. (PdVSA) of 50% stake in Ruhr Oel GmbH.

Ruhr Oel GmbH is a 50/50 downstream joint venture between BP and PdVSA with an aggregate equity refining capacity amounting to approximately 22% of total German refining capacity.

The Allen & Overy team is led by corporate partner Tim Shilling in Moscow, supported by corporate senior associates Vladimir Zenin and Kyle Davis (all Moscow), Heather Ford and LaToya Edwards (both New York). Allen & Overy's German corporate team consists of partner Cornelius Fischer-Zernin, supported by associates Per Lessmann, Ruediger Klueber (all Hamburg) and Jens Goelz (Frankfurt). Antitrust advice was provided by Ellen Braun supported by Andrea Pomana in Hamburg.

Commenting on the deal, Tim Shilling said: "This was a highly complex transaction for all parties, including Rosneft, as it involved numerous parties in many jurisdictions. We are delighted that Allen & Overy's multi-jurisdictional capabilities, teamwork and expertise made a significant contribution to reaching a successful closing."

For further information, please contact Ekaterina Gorchakova at ekaterina.gorchakova@allenovery.com or on +7 495 725 7918.

Allen & Overy is an international legal practice with approximately 5,000 staff, including some 470 partners, working in 36 major centres worldwide. In this press release 'Allen & Overy' means Allen & Overy LLP and/or its affiliated undertakings. The term 'partner' is used to refer to a member of Allen & Overy LLP or to an employee or consultant with equivalent standing and qualifications or to an individual with equivalent status in one of Allen & Overy LLP's affiliated undertakings.

6 May 2011

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