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Blakes, Mallesons, share Arrow deal
Energy company Arrow Energy has received a $3.3 billion joint takeover offer from Anglo-Dutch oil company Royal Dutch Shell and Chinese company PetroChina.
The New Lawyer
ENERGY company Arrow Energy has received a joint takeover offer worth about $3.3 billion from Anglo-Dutch oil company Royal Dutch Shell and Chinese company PetroChina.
In a statement to the Australian Securities Exchange (ASX), Arrow said it had received a conditional proposal from a company jointly known by the two firms. Shell already owns a 10 per cent share in Arrow’s international unit. Mallesons Stephen Jaques is acting for Arrow on the deal, and the energy company has appointed Citi and UBS as financial advisers. Blake Dawson, meanwhile, is acting for PetroChina in relatin to the non-binding indicative and conditional proposals by Royal Dutch Shell and PetroChina to acquire Arrow. Blakes’ corporate partner Justin Shmith said the potential acquisition is the first major acquisition by PetroChina in Australia. “We are pleased to be involved in representing another leading Chinese company,” he said. Shmith was supported by Blakes lawyers Paul Newman, Marie McDonald and Lizzie Knight.
