Akin Gump Strauss Hauer & Feld and Baker & McKenzie lead $3.1 billion energy deal

Akin Gump Strauss Hauer & Feld and Baker & McKenzie have secured leading roles in the state-owned China National Offshore Oil Corp’s (CNOOC) $3.1bn investment in Argentinian oil concern Bridas. Under the terms of the deal, CNOOC has bought itself a 50 per cent stake in Bridas – the second largest oil producer in Argentina. Bakers advised longstanding client CNOOC on the deal, with a team led by Shanghai-based M&A partner Bee Chun Boo and Beijing-based M&A partner Stanley Jia. The team included energy, M&A and banking partners across the firm’s London, Madrid, Santiago and Washington DC offices. Akin Gump Strauss Hauer & Feld advised Bridas with a team led by energy partner James Langdon and including London partners Steven Blakeley and Douglas Glass and international corporate transactions head Rick Burdick. Burdick commented: “This high-profile transaction in one of our core sectors is at the very heart of our international corporate practice – a cross-border English law deal in the energy sector capitalising on our comprehensive understanding of the industry.”

Akin Gump Strauss Hauer & Feld and Baker & McKenzie lead $3.1 billion energy deal thelawyer.com Tue, Mar 23, 2010