International law firm Allen & Overy advised H&R WASAG AG, Salzbergen,
on the purchase of the worldwide special refinery activities of
mineral oil company BP. This follows on from Allen & Overy advising
the company on the acquisition of the European BP special refinery
ranges in October 2003. In both transactions, Allen & Overy worked
closely with Hamburg-based accountancy firm, Susat & Partner.
The current acquisition covers both production and selling structures
in South Africa, Australia, Southeast Asia, North America and Great
Britain and is scheduled to close on 1 July. The newly acquired
activities represent an annual sales volume of 50 million euro.
Hamburg-based partner Dr Cornelius Fischer-Zernin led the Allen &
Overy team. On corporate and energy law issues, he was supported by
associates Dr Ramin Loeschner and Angar Porthun (Hamburg) as well as
by London-based partner Tim Shilling. Frankfurt-based associate Olaf
Zwetkow advised on antitrust aspects and London-based associates Jo
Taylor and Sandip Gudka advised on pensions and employment law issues.
Partner Sopita Bhakdibhumi (real estate) and associate Arkrapol
Pichedvanichok (corporate law) from Allen & Overy’s Thai office also
Dr Cornelius Fischer-Zernin comments: “We are delighted to have once
again advised H&R WASAG AG on its second major acquisition within the
field of special refineries. This further demonstrates the ability of
our practice to advise on complex cross-border M&A-transactions.”