Vinson & Elkins and Weil Gotshal & Manges have advised on Sinopec's purchase of a 33% stake in the Egyptian oil and gas business of American energy corporation Apache, for $3.1bn (£1.99bn). The transaction, which is still subject to approval, saw Sinopec's subsidiary Sinopec International Petroleum Exploration and Production Corporation (SIPC) acquire the Egyptian assets after entering into a strategic partnership with the Texas-based company to pursue joint, upstream oil and gas projects.
September 04, 2013 at 01:58 AM
1 minute read
The original version of this story was published on Legalweek
Vinson & Elkins and Weil Gotshal & Manges have advised on Sinopec’s purchase of a 33% stake in the Egyptian oil and gas business of American energy corporation Apache, for $3.1bn (£1.99bn).
The transaction, which is still subject to approval, saw Sinopec’s subsidiary Sinopec International Petroleum Exploration and Production Corporation (SIPC) acquire the Egyptian assets after entering into a strategic partnership with the Texas-based company to pursue joint, upstream oil and gas projects.
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