International law firm Clifford Chance has advised Chrysaor, the UK’s leading independent North Sea oil and gas group, on the completion of its all share merger with Premier Oil plc through a reverse takeover, which included the reorganisation of Premier’s existing debt and cross-currency swaps. The transaction has created a new global independent oil and gas company, renamed Harbour Energy plc, with a global portfolio of assets and a material North Sea foundation. Harbour Energy is also now the largest independent oil and gas company listed on the London Stock Exchange with a market capitalisation of approximately $5 billion (EV c.$7 billion).
The Clifford Chance team advising on the transaction was led by Clifford Chance corporate partners Steven Fox and Graham Phillips, Restructuring partners Philip Hertz and Melissa Coakley and Finance partner Simon Williams, supported by senior associates Olivia Higgs, Monica Gemes, Sarah Jane O’Leary and Keith Hauck. Capital Markets partner Simon Thomas and senior associate James Spencer also advised along with Antitrust Partner Greg Olsen and senior associate Chandralekha Ghosh, Employee Incentives partner Sonia Gilbert, Employment partner Michael Crossan, Pensions partner Clare Hoxey and Tax partner Nick Mace.
