Ashurst advises OMV on sale of 50% stake in SapuraOMV to TotalEnergies

Global law firm Ashurst has advised OMV on the sale of its 50% stake in Malaysian-headquartered SapuraOMV to TotalEnergies Holdings.

SapuraOMV, headquartered in Kuala Lumpur, is a 50:50 joint venture between Sapura Energy Berhad and OMV established in 2019. It has production and development assets in shallow waters offshore of Malaysia, as well as exploration interests in Malaysia, Mexico, Australia, and New Zealand. TotalEnergies is a global multi-energy company that produces and markets energies.

The Ashurst team was led by energy and infrastructure corporate partner Michael Burns, supported by senior associate Naomi Nguyen, associates Florence Fry and Michael Choi and trainees Yasmin Dugdale and Julius Perrin.

Partner Tim Gummer, counsel Mark Spinney and associate Luis de Freitas led on tax aspects. Competition advice was provided by partner Neil Cuninghame and associate Louisa Denison. Partner Ruth Buchanan and associate India Coultas led on employment matters and global loans partner Helen Jones and senior associate Louise Young also advised. A Perth-based projects team made up of partner Jessica Davies, senior associate Rachel Sturmer and associate Charlotte Griffin also assisted.

Commenting on the matter, lead partner Michael Burns said: "We're pleased to have assisted OMV on another strategically important transaction. It has been a pleasure to work with the OMV team to get to this milestone on the transaction."