Herbert Smith and Clifford Chance (CC) have lined up to advise on Essar Energy's exclusive agreement to buy Shell's Stanlow refinery in Cheshire for around $350m (£214.4m). The agreement, which will see Shell leave the UK refinery market if it goes through, saw Essar agree to pay a break fee of $50m (£31m) if it backs out of the deal before the exclusivity period ends on 31 March.
March 01, 2011 at 02:54 AM
1 minute read
The original version of this story was published on Legalweek
Herbert Smith and Clifford Chance (CC) have lined up to advise on Essar Energy’s exclusive agreement to buy Shell’s Stanlow refinery in Cheshire for around $350m (£214.4m).
The agreement, which will see Shell leave the UK refinery market if it goes through, saw Essar agree to pay a break fee of $50m (£31m) if it backs out of the deal before the exclusivity period ends on 31 March.
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