Allen & Overy (A&O) and Norton Rose Fulbright have won leading roles on a £160m deal that has seen Centrica make its entrance into the closely watched UK shale gas market. Centrica, which owns British Gas, has taken a 25% stake in the Bowland shale gas exploration licence in Lancashire after negotiations with UK shale gas explorer Cuadrilla Resources and Australian engineering group AJ Lucas, which previously held 75% and 25% stakes respectively in the fracking fields. A&O won a first-time mandate for Cuadrilla on the deal following a competitive process. The magic circle firm's London-based team was led by corporate partner John Geraghty, with support from tax partner Lydia Challen.
June 20, 2013 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
Allen & Overy (A&O) and Norton Rose Fulbright have won leading roles on a £160m deal that has seen Centrica make its entrance into the closely watched UK shale gas market.
Centrica, which owns British Gas, has taken a 25% stake in the Bowland shale gas exploration licence in Lancashire after negotiations with UK shale gas explorer Cuadrilla Resources and Australian engineering group AJ Lucas, which previously held 75% and 25% stakes respectively in the fracking fields.
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