Corporate team helps MOH acquire Shell´s retail business in Greece
30 September 2009
International law firm Stephenson Harwood has advised Motor Oil Hellas (MOH) on its €245 million acquisition of Shell's downstream business in Greece. The deal – which is subject to competition authority clearance – involves the acquisition of Shell Hellas A.E., the Greek arm of Shell International and operator of some 700 petrol stations in Greece; Shell A.E.B.E.Y., a liquid petroleum company; and the entry into a new aviation fuel marketing joint venture with Shell. The retail network, as well as the aviation joint venture, will be Shell-branded through Trademark Licensing Agreements.
Motor Oil Hellas, a long standing client of Stephenson Harwood, is a Greek petroleum company and a key market player in the region. Its refinery, including ancillary plants and offsite facilities, forms one of the largest industrial complexes in Greece and is considered one of the most modern refineries in Europe.
Duncan Stiles, corporate partner at Stephenson Harwood, commented: "We are delighted to have advised MOH on this significant and complex acquisition and look forward to continuing to work with them in the future".
George Prousanides, general counsel at MOH, said: "This is an important transaction for MOH. The complex nature of the deal required top quality legal and commercial advice - and Stephenson Harwood delivered at every stage".
The core Stephenson Harwood team was led by corporate partners Duncan Stiles and Marc Hammerson assisted by Adele Falconer, with IP partner Eifion Morris dealing with licensing arrangements and Julianne O'Leary leading on the competition aspects. The team also advised on the extensive environmental, real estate, employment, pensions, tax and IT aspects of the deal.
Allen & Overy, led by partner Jeremy Parr, advised Shell International.
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