March 07, 2017
Uniper Exploration & Production GmbH, Düsseldorf (Uniper), has signed an agreement with Austrian oil and gas company OMV Exploration & Production GmbH (OMV) for the sale of its interest in the Russian gas field Yuzhno-Russkoye. The purchase price for Uniper’s participation amounts to approx. EUR 1,749 million (USD 1,850 million) plus cash on balance sheet per 31 December 2016.
Uniper holds an interest of approx. 25% in Yuzhno-Russkoye via participations in OJSC Severneftegazprom and JSC Gazprom YRGM Development. OMV will acquire 100% of Uniper’s interest in both companies.
Latham & Watkins represents Uniper in the transaction with a corporate deal team led by Düsseldorf partners Martin Neuhaus and Harald Selzner, London partner Simon Tysoe and Hamburg partner Dirk Kocher, with London associate Evelyne Girio and Düsseldorf associates Benedikt Vogt and Tim Odendahl. Advice was also provided on finance matters by Moscow partner Mikhail Turetsky, with associates Bairta Ochirova and Olga Ponomarenko, and on tax matters by London partner Sean Finn, with associate Amy Watkins.