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AdeB assisted RWE AG in the sale of its oil and gas division, RWE Dea. The company, which has operations in a number of countries, is a significant player on the Norwegian continental shelf with over 40 licences, and is the operator in six of these.
RWE has agreed the main terms and conditions for the sale with purchaser L1 Energy, including an agreed purchase price of EUR 5.1 billion. Completion is contingent on finalisation of the sale and purchase agreement and approval from the relevant authorities. RWE Dea is part of the RWE group, which is one of Europe’s leading electricity and gas companies with more than 70,000 employees and total sales of EUR 53 billion in 2011. (See RWE press release).
The sale of RWE Dea is one of a number of significant corporate transactions currently being concluded in the Norwegian oil and gas sector. AdeB is heavily involved in several of these transactions, which confirms AdeB’s position as Norway’s leading law firm in the oil and energy sector.