Shell-BG £47bn megadeal may only be the first, say Allen & Overy lawyers

Sanjeev Dhuna [inset] and Allen & Overy HQ at Bishops Square

Sanjeev Dhuna [inset] and Allen & Overy HQ at Bishops Square - Credit: Allen & Overy

Lawyers from London’s East End who helped secure Britain’s biggest-ever take-over deal involving a Canary Wharf global bank are anticipating more mega-deals.

Allen & Overy’s law firm in Bishops Square in Spitalfields represented Bank of America Merrill Lynch as the mandated bank and sole lender for Shell Oil’s £47 billion cash and share Easter take-over of BG Group petroleum.

“This is a landmark deal for both companies and the oil and gas industry,” A&O’s London banking partner Sanjeev Dhuna said.

“We anticipate more transactions, with liquid debt markets and piles of cash giving rise to fertile landscapes for mergers.

“This deal shows we can deliver within a short timetable under pressure, as we completed the acquisition financing arrangements over the Easter bank holiday.”

You may also want to watch:

The megadeal is the 14th largest in the world and the biggest UK-to-UK deal, according to Bloomberg markets analysts.

A combination of cash reserves and historically low rates has created “an ideal climate” for corporates to make their move on strategic deals.

Most Read

The Shell-BG merger was publically announced on April 8. The A&O team acting for Bank of America Merrill Lynch was led by Sanjeev with support from senior associatesBen Myers and David Duncan.

Become a Supporter

This newspaper has been a central part of community life for many years. Our industry faces testing times, which is why we're asking for your support. Every contribution will help us continue to produce local journalism that makes a measurable difference to our community.

Become a Supporter
Comments powered by Disqus