Latham Advises EIG on New US$19 Billion Joint Venture With Repsol Upstream
Repsol Upstream will own and operate Repsol’s globally diversified portfolio of upstream assets, delivering cash generative and resilient operations around key regional hubs, with a focus on the United States. The business has committed to leadership in reducing greenhouse gas (GHG) emissions, initially adopting Repsol’s existing targets, including a 75% reduction of carbon intensity by 2025 from a 2016 baseline, and implementation of a decarbonization plan including development of new short and medium-term GHG emission reduction targets.
The Latham team was led by London corporate partners Sam Newhouse and Simon Tysoe and London associate George Venables, together with London associates Emily Smith and Saavan Shah, and Madrid associates Marta Portuondo and Carmen Esteban. Advice was also provided on finance matters by London partners Tom Bartlett, Conrad Andersen, and Dean Naumowicz, with associates Delyth Hughes and Misa Schmiederova; on tax matters by London partner Karl Mah, with associates Aoife McCabe and Lina LeRoux; on antitrust matters by London partner Jonathan Parker and London associates Nadeem Brora and James Mathieson; on US regulatory matters by Washington, D.C. partner Damara Chambers and counsel Ruchi Gill; and on sanctions matters by London partner Charles Claypoole and Washington, D.C. partner Eric Volkman, with London associate Thomas Lane and Washington, D.C. associate Ragad Alfaraidy.