Sinochem Resources UK has proposed a £532.1 million recommended cash acquisition of Emerald Energy, a UK-based oil and gas producer.
Freshfields Bruckhaus Deringer is advising Sinochem, a Chinese state-owned enterprise (SOE) focusing on energy, agriculture and chemicals, on its offer. It is the first City Code offer by a Chinese SOE for a London main market company.
It is expected that the acquisition will take place by way of a scheme of arrangement under Isle of Man law. Simcocks is advising Sinochem as to Isle of Man law.
Memery Crystal is representing Emerald on English law, with Dickinson Cruickshank advising the seller on Isle of Man law.
The Freshfields team is being led by corporate partners Chris Wong in Beijing and Graham Watson in London and includes Beijing antitrust partner Michael Han.