Pinsents and Shearman advise on $1.24bn Delek Group takeover

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Shearman & Sterling and Pinsent Masons picked up lead roles on the $1.24bn (£994m) takeover of Israeli-listed Delek Group by North Sea oil and gas operator Ithaca Energy.

Delek has natural gas exploration and production activities in the Eastern Mediterranean and is valued at $646m.

M&A partner George Karafotias from Shearman Sterling and Markus Viirland from Canadian firm Blakes Cassels & Graydon advised Delek the purchase.

Meanwhile Pinsent Masons’ head of corporate Rosalie Chadwick advised Ithaca Energy alongside boutique Canadian firm Burstall Winger Zammit. Burstall managing partner Doug McCartney led the team.

Pinsents was one firm to secure a spot on oil giant BP’s UK legal panel earlier this year.

Chadwick featured in The Lawyer’s Hot 100 2016 for her work on the £585m disposal of assets by French oil giant Total to North Sea Midstream Assets following the collapse in oil prices.

Chadwick commented: “We have a relationship with Ithaca dating back a number of years and are delighted to be involved in this next major milestone for the business. It caps of a busy start to the year which has seen a renewed level of interest in North Sea assets as prices have stabilised and expectations adjusted.”

The post Pinsents and Shearman advise on $1.24bn Delek Group takeover appeared first on The Lawyer | Legal News and Jobs | Advancing the business of law.



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