Latin Lawyer Recognizes Andrews Kurth in High Profile M&A Deal
Latin Lawyer has named the Sinopec $2.45 billion acquisition of Occidental Petroleum Corporation’s Argentine oil and gas assets as a runner-up for its “2010 M&A Deal of the Year.”
On December 3, 2010, Sinopec, China’s largest oil and gas company and Asia’s largest crude oil refiner, signed a transaction with Occidental Petroleum Corporation (Oxy) for the acquisition by Sinopec of Oxy’s oil and gas business in Argentina, including 23 concessions located in three Argentine provinces. The transaction is valued at $2.45 billion and will result in Sinopec’s increasing its reserves to help China meet its growing demand. The transaction is indicative of China’s expansion of its reach in the oil and gas industry. Andrews Kurth and the Argentine firm of Alfaro Abogados advised Sinopec on the transaction, while Vinson & Elkins LLP and the Argentine firm of Pérez Alati, Grondona, Benites, Arntsen & MartÌnez de Hoz (h) advised Oxy. Alfaro Abogados, a World Law Group member firm, was referred to Sinopec through the firm’s partnership with the organization. The transaction is scheduled to close in the first quarter of 2011.
Doris Rodríguez, Randolph Bryant, Paul Sève, Hong Irwin, Tom Perich, Tim Unger, Eleanor Verret, Paul Breaux, Luciane Juliani, Ignacio Hirigoyen and Kevin Li continue to handle the matter for the firm.
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Latin Lawyer magazine is the leading business law resource for Latin America, providing news and analysis of deals, cases, and legal and policy developments across the region.
About Andrews Kurth LLP
For more than a century, Andrews Kurth has built its practice on the belief that “straight talk is good business.” Real answers, clear vision and mutual respect define the firm’s relationships with clients, colleagues, communities and employees. With 400 lawyers and offices in Austin, Beijing, Dallas, Houston, London, New York, The Woodlands and Washington, DC, Andrews Kurth represents a wide array of clients in multiple industries throughout the world. For more information about Andrews Kurth, please visit andrewskurth.com.