White & Case advises TotalEnergies on acquisition of OMV’s upstream gas assets in Malaysia

Global law firm White & Case LLP has advised TotalEnergies on the signing of an agreement with OMV to acquire its 50 percent interest in Malaysian independent gas producer and operator SapuraOMV Upstream Sdn (SapuraOMV) for a consideration of US$903 million, including the transfer of a US$350 million loan granted by OMV to SapuraOMV, and subject to customary closing adjustments.

The transaction is subject to customary conditions precedent, in particular the receipt of regulatory approvals. Closing is expected by the end of the first half of 2024.

SapuraOMV also holds interests in exploration licenses in Malaysia, Australia, New Zealand and Mexico.

The White & Case team which advised on the transaction was led by partner Marc Petitier (Paris) and included partners Jérémie Marthan, Estelle Philippi, Valérie Ménard (all Paris), Margot Berry, Laetitia Souesme, Mukund Dhar (all London) and Francisco de Rosenzweig, local partner Roman Gonzalez Melo (both Mexico City) and associates Edouard Le Breton, Etienne Branthomme, Camille Coulon, Claire Sardet, Anaïs Caspar (all Paris), David Murray, Lauren Vallender, Marina Tatsumi, Harjas Dhillon, Jake Seal, Sarah Kaylinger, Kathleen McConchie (all London), Megan Irons, Lucy Raffel, Aileen Fitzmaurice, Alistair Leung, Olivia Yan (all Sydney), Tom Carberry, Fiona Blanch (both Melbourne), Jose Daniel Franco, Gustavo Neyra Lopez and Diego Mendoza Arrieta (all Mexico City).

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