Nabarro notches up another African energy deal
09 May 2008
Nabarro has advised AIM and TSX (Toronto Stock Exchange) listed Energem Resources Inc. on the sale to Glencore International AG of an equity stake in Energem's Nigerian refined fuel storage and distribution facility, for a cash consideration of US$32.3 million.
Energem Resources is a renewable and alternative energy resources company engaged in 10 African countries and China in long term projects in the energy sectors. Glencore is one of the world's largest suppliers of a wide range of commodities and raw materials to industrial consumers.
The Nabarro team was led by corporate partner Ian Binnie assisted by associates Laura Tabet and Jemima Fearnside, and by senior banking associate Michael Delaney. Glencore was advised by Howard Kennedy.
Corporate partner, Ian Binnie, commented:
“Following its admission to AIM in November 2007, when we acted as Energem's English legal advisers, we are extremely pleased to have been able to work on the introduction of Glencore to this important project. The Nabarro corporate team has again demonstrated its enviable track record of acting on African-focused investments in the natural resources sector as well as in climate change and energy projects."
If you would like any further information or have any queries please contact:
Charlotte Tandy
Lansons Communications
T +44 (0)20 7566 9706
charlottet@lansons.com
