20 May 2010
Egorov Puginsky Afanasiev & Partners advises on €595m energy deal

Nauta Dutilh Advises €595m Energy Deal

The energy group of Dutch firm Nauta Dutilh was lead counsel for MISC Berhad, the shipping subsidiary of Malaysia's national oil company Petronas, in its acquisition of a 50% stake in Vitol Tank Terminals International (VTTI) for $735m (€595m) in cash.

VTTI, incorporated in the Netherlands, is one of the world's top 10 independent tank terminal operators, controlling a network of terminals and petroleum depots in 11 countries, including two huge terminals in Amsterdam and Rotterdam. MISC Berhad was spun off from Petronas in 1987. Today MISC Berhad is the world's largest owner of liquefied natural gas tankers.

Jaap Jan Trommel (pictured) of the Amsterdam office led the energy group. The Brussels office was also involved, with partner Charles van Sasse van Ysselt, because a terminal and refinery in Antwerp were part of the deal, and the merger had to be submitted to the Belgian competition authorities.

Local counsel included Holland & Knight in the US, Egorov Puginsky Afanasiev in Russia, Al Tamini in the UAE, Allende Brea in Argentina, and Raidla Lejins & Norcous in Latvia.

Deutsche Bank advised the Vitol Group on financial aspects with Skadden Arp giving legal counsel.