Graham Watson

Freshfields Bruckhaus Deringer (“Freshfields”) is advising Equans, a subsidiary of the Bouygues group, on the proposed sale of its district heating and cooling networks in the UK to a consortium formed by Swiss Life Asset Managers and Schroders Greencoat. The portfolio includes district heating and cooling concessions often known as Equans Urban Energy, and includes East London Energy Limited and Equans DE Holding Company Limited. Humber Energy will also be included in the transaction. Completion of the transaction is expected in the last quarter of 2023, subject to relevant approvals. The Freshfields team is being led by partners Richard Johnson, Olivier Rogivue and Graham Watson, together with partners Giles Pratt on separation matters; David Haworth and Peter Clements on tax matters; Rikki Haria on merger control and foreign investment matters; and David Mendel on employment, benefits and pensions matters.

Sep 18

1 min

Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) is advising China Investment Corporation, funds advised by Carlyle Group and CVC Capital Partners, founder Sam Laidlaw and certain management owners on the sale of the Neptune Energy group (excluding its business in Germany) to Eni, as well as on the inter-conditional sale of Neptune Energy’s Norway business to Vår Energi, for an aggregate enterprise value (subject to customary adjustments) of $4.9 billion. The sale is subject to customary conditions, including receipt of necessary regulatory and governmental clearances, and is expected to close in the first quarter of 2024. Neptune Energy is an independent global exploration and production (E&P) company with operations across Europe, North Africa and Asia Pacific. The Freshfields team is being led by partners Graham Watson and Alon Gordon, with support from a team across the network, including partners Toby Bingley, Tom Godwin and Charles Hayes. BAHR is advising on Norwegian law matters, with a team led by partners Thomas Svensen and Trond Lingaas. Commenting on today’s announcement, Graham Watson said: “We are delighted to have supported Neptune Energy and its shareholders in reaching this key milestone in the Neptune Energy story, having advised since Neptune’s inception through the $3.9bn acquisition of ENGIE E&P International in 2017. These transactions are significant for the sector, and Neptune’s gas-weighted portfolio and new energy business will support energy transition targets.” Alon Gordon added: “It has been a privilege to accompany Neptune’s excellent team and its shareholders through the company’s formation and subsequent growth, including its acquisition of VNG Norge and several other transactions. We look forward to continuing the extraordinary journey as we work with the Neptune Energy, Eni and Vår Energi teams towards completion of this transaction.”

Jun 23

1 min

Freshfields Bruckhaus Deringer (‘Freshfields’) advises bp on the sale to funds managed by Apollo of a non-controlling stake in bp Pipelines TAP Limited, the bp subsidiary that holds a 20 per cent interest in Trans Adriatic Pipeline AG, in a transaction valued at approximately US$1 billion. The transaction is expected to close in 4Q 2024, subject to customary regulatory and partner approvals. Trans Adriatic Pipeline AG is the owner and operator of a key infrastructure asset for meeting European energy demand - the final 880-kilometre leg of the Southern Gas Corridor pipeline system that transports natural gas from the bp-operated Shah Deniz gas field in the Azerbaijan sector of the Caspian Sea to markets in Europe such as Greece and Italy. The Freshfields team was led by partners Samira Afrasiabi and Graham Watson, counsel Bukunola Alakija, and senior associate Henry Chau. Tax advice was provided by partner Helen Buchanan, and senior associates David Haughey and Joshua Critchlow. Regulatory advice was provided by partner Alastair Chapman, counsel Giorgio Candeloro and senior associate Rory Jones.

Sep 19

1 min

Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) has advised BASF on the merger between Wintershall Dea AG (‘Wintershall Dea’) and Harbour Energy plc (“Habour”). The merger agreement provides for the transfer of Wintershall Dea's E&P business to Harbour. This includes production and development assets as well as exploration rights in Norway, Argentina, Germany, Mexico, Algeria, Libya (excluding Wintershall AG), Egypt and Denmark (excluding Ravn) as well as Wintershall Dea's carbon capture and storage (CCS) licences. In return, the shareholders of Wintershall Dea - BASF (72.7%) and LetterOne (27.3%) - will receive a total cash payment of USD 2.15 billion (BASF share: USD 1.56 billion) plus new Harbour shares to be issued by Harbour, representing a total shareholding in the enlarged Harbour of 54.5% (BASF share: 39.6%) upon completion of the transaction. The agreed enterprise value for the target assets of Wintershall Dea is USD 11.2 billion. This amount includes Wintershall Dea's outstanding bonds with a nominal value of approximately 4.9 billion US dollars, which will be transferred to Harbour upon completion of the transaction. The transaction is subject to, among other conditions, the approval of merger control and foreign investment authorities in several countries. Pending these regulatory approvals, the transaction is expected to close in the fourth quarter of 2024. The Freshfields team comprised partners Rick van Aerssen, Sabrina Kulenkamp (both Corporate/M&A, Frankfurt), Graham Watson, Samira Afrasiabi (both Corporate/M&A, London), Maria Dreher-Lorjé (Vienna), Thomas McGrath (London), Rafique Bachour (Brussels), Frank Röhling (Berlin, all Antitrust & Competition), Norbert Schneider (Tax, Düsseldorf), Frank Schaer (People & Reward, Frankfurt) and Philipp Dohnke (Commercial, Hamburg), Counsel Bukunola Alakija (Corporate/M&A, London) and Sarah Jensen, Principal Associates Susannah Prichard (both London), Florian Reiter-Werzin (Vienna), all Antitrust & Competition). Florian Reiter-Werzin (Vienna, all Antitrust & Competition), Thomas Richter (Tax, Düsseldorf), Nikolaus Bunting (Capital Markets, Frankfurt) and Elisabeth Wulf (Commercial, Hamburg) as well as associates Thomas Kelm (Corporate/M&A, Frankfurt), Martha Davis, Chloe Coleman, Dominic Armstrong (all Corporate/M&A, London), Nicholas English (London), Victoria Baert (Brussels, both Antitrust & Competition), Valentin Lang (People & Reward, Frankfurt) and Linus Cathomas (Capital Markets, Frankfurt). The BASF team comprised Stefan Rothweiler (Vice President Legal Corporate), Holger Pattberg (Director Legal Corporate) (both lead), Stephan Purps (Director Corporate Legal), Lars Reichmann (Vice President HR), Dr Michael Reichle (Director HR), Jochen Beyer (International Tax).

Dec 27

2 min

Global law firm Freshfields has received top tier rankings in the Legal 500 Latin America guide for 2026. For the 17th consecutive year, the firm is ranked Tier 1 for International Arbitration. Legal 500 notes, “Freshfields' international arbitration team is exceptional. They are the undisputed leaders in the field of investment arbitration and are always at the forefront, setting trends.” Multiple international arbitration lawyers also received individual rankings, including: Nigel Blackaby KC – Hall of Fame Noiana Marigo – Hall of Fame Caroline Richard – Leading Partner Lee Rovinescu – Next Generation Partner Natalia Zibibbo – Leading Associate Maria Julia Milesi – Leading Associate Hinda Rabkin was also mentioned as a Key Lawyer. Freshfields also received rankings in Corporate/M&A and Projects and Energy, with Legal 500 noting, “Freshfields has a very strong M&A practice. The team is robust, technical, and capable of handling the most complex transactions on the market.” Partners Andrea Basham, Paul Humphreys and Graham Watson and counsel Enrique Dancausa were noted as key lawyers on the Corporate/M&A team. Learn more about our Latin America practice here.

Oct 24

1 min