A cross-border team of Allen & Overy lawyers has advised leading Spanish energy company Repsol on the sale of 25% of its upstream business to U.S. institutional investor EIG. The transaction has a value of USD4.8 billion and covers more than ten jurisdictions globally. This is a transformational deal for Repsol, reinforcing its position at the forefront of the energy transition.
John Geraghty comments: “This deal confirms Repsol’s position as a leading player in the energy transition, enabling accelerated transformation towards its net zero emissions goals. Our teams across jurisdictions were able to bring their specialist expertise to bear for a great result.”
The A&O team was led by Madrid partners Iñigo del Val, Ignacio Ruiz-Camara and Tom Wilkinson and London partner John Geraghty. Senior associate Reka Palla in Madrid and London associate Cathy Gilmartin also advised. Tax advice was led by London counsel Gareth Banfield and counsel Jaime Rodriguez in Madrid advised on antitrust aspects of the deal.
The deal closing is subject to customary approvals.
