Global law Firm Baker McKenzie announced that it has advised PTT Exploration and Production Public Company Limited, the Thailand-based energy company, in the divestiture of its participation interest of 16.67% in Mexico’s Round 2.4 assets to REPSOL, in line with the company’s portfolio rationalization effort, to align with PTTEP’s latest investment strategy.
PTTEP’s business includes exploration, development, and production of petroleum as well as new forms of energy, and advanced technology. The completion of this transaction is expected by the end of 2024, subject to the obtaining of certain regulatory approvals from Mexican authorities.
The Baker McKenzie team that participated in the deal was made up of partners BenjamĂn Torres BarrĂłn from the Energy, Mining & Infrastructure Industry Group & Carlo PĂ©rez-Arizti from the Transactional Practice Group (Mexico) and associates Carlos Maass and Cristina Palomo, REPSOL was represented by Holland & Knight in the UK and by Cuatrecasas in Mexico.
Commenting on the transaction, Benjamin Torres BarrĂłn said: “We are very pleased to have been able to advise PTTEP in this strategic transaction. Our energy team is well prepared and constantly advising clients in this type of deals.” With more than 2,700 deal practitioners in 45 jurisdictions, Baker McKenzie continues to be THE transactional powerhouse.
