Pinsent Masons advises Eni on joint venture with bp to create a new independent energy company in Angola
16 Mar 2022 | 09:21 am |
Multinational law firm Pinsent Masons has advised Eni on its agreement with bp to form a new 50/50 independent company, Azule Energy in Angola.
Azule Energy is expected to be Angola’s largest producer, holding stakes in 16 licences, as well as participating in the Angola LNG joint venture. Azule Energy will also take over Eni’s stake in Solenova, a solar company jointly held with Sonangol.
Pinsent Masons has advised Eni on all aspects of this complex deal including M&A, tax, employment, and energy regulatory advice.
Commenting on the deal, lead partner Akshai Fofaria said: “This joint venture will transform Angola’s energy landscape. The multidisciplinary nature of our team enabled us to navigate the complexities of this transaction to reach agreement on an innovative new venture that will have one of the largest portfolios in Sub-Saharan Africa.”
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