White & Case advises Etu Energias on acquisition financing of upstream Angolan assets

Global law firm White & Case LLP has advised Etu Energias, S.A., Angola's largest private energy company, on the acquisition financing of stakes in upstream Angolan assets from the Portuguese multinational energy company Galp.

"This transaction represents Etu Energias' entry into the production of oil in ultra deep waters and is a major step in its strategy to build a profitable and diversified portfolio," said White & Case partner Jason Kerr, who co-led the Firm's deal team.

The financing was secured by a consortium led by the African Export-Import Bank and included Shell Western Supply and Trading Limited, Banco Angolano de Investimentos (BAI) and Banco de Fomento Angola (BFA).

White & Case partner Mukund Dhar, who co-led the Firm's deal team, said: "This transaction reinforces our position as a leading adviser on energy transactions in Angola and across Africa."

White & Case previously advised on the acquisition of these upstream assets from Galp in 2023.

The White & Case team which advised on the transaction was led by partners Jason Kerr and Mukund Dhar (both London) and included partners Deji Adegoke, Margot Berry, Will Smith, Ingrid York and Anthony Colegrave (all London), counsel Nicholas Macheras (Paris) and Johanna Hayward (London) and associates David Murray, Lauren Vallender, Asad Khan, Alec Buchanan, Sebastian Modos and Sylvia Julius (all London).

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