Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Skadden acts on sale of Kazakhstan’s privately-owned oil companies

Skadden Arps Slate Meagher & Flom has landed a role advising on two acquisitions in Kazakhstan thought to be worth about $3bn (£2.06bn) in total.

The New York leader advised Kazakhstan’s largest privately-owned oil company, JSC MangistauMunaiGaz (MMG) and its holding company Central Asia Petroleum (CAP) on the sale of a 100% stake in MMG to Mangistau Investments – a joint venture between China National Petroleum Corporation (CNPC) and KazMunaiGas (KMG).

The sale saw Skadden drafting in a large multi-jurisdictional team led by London corporate partner Hunter Baker and Paris co-managing partner Chris Baker.

The pair were assisted by M&A partner Lorenzo Corte, corporate finance partner Rich Muglia and banking partner Clive Wells in London, as well as Brussels counsel Nik Peristerakis and Beijing corporate partner Peter Huang.

Skadden picked up the instruction through its relationship with CAP and MMG’s financial advisers, including Bank of America, Merrill Lynch, JP Morgan and Morgan Stanley.

CNPC turned to US firm Dewey & LeBoeuf for advice, with finance partner Brian Zimbler taking the lead role. Meanwhile, Norton Rose was drafted in to advise KMG, with London corporate finance partner Simon FT Cox acting.

The acquisition is being financed with part of a $5bn (£3.4bn) loan from the Export-Import Bank of China, which turned to Clifford Chance for advice. As part of the acquisition, Skadden also advised CAP on the sale of its interest in the Pavlodar refinery to KMG.


This premium content is reserved for
Legal Week Subscribers.


  • Trusted insight, news and analysis from the UK and across the globe
  • Connections to senior business lawyers within the leading law firms and legal departments
  • Unique access to ALM's unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week's UK Top 50 and Global 100 rankings
  • The Legal Week Daily News Alert, Editor's Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
  • Optimized access on all of your devices: desktop, tablet and mobile
  • Complete access to the site's full archive of more than 56,000 articles

Already have an account?

For enterprise-wide or corporate enquiries, please contact Paul Reeves on Preeves@alm.com or call on +44 (0) 203 875 0651

Takeovers & FreezeoutsBook

Takeovers & Freezeouts addresses important legal developments concerning topics such as: Sarbanes-Oxley, reducing vulnerability to hostile takeovers, specific responses to overtures and takeover bids.
Get More Information


Legal Week Newsletters & Alerts

Sign Up Today and Never Miss Another Story.

As part of your subscription, you can sign up for an unlimited number of a wide range of complimentary newsletters and alerts. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2019 American Lawyer Media International, LLC. All Rights Reserved.