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Norton Rose Advises Shell on USD $926 Million Energy Deal

Norton Rose Fulbright has assisted Shell’s in-house legal team with the disposal of the company’s upstream interests in the Western Desert in Egypt to Cheiron Petroleum Corporation and Cairn Energy Plc for a base price of US$646m, with additional payments of up to US$280m between 2021 and 2024, subject to oil price and exploration results.

Shell is a public limited company with a primary listing on the London Stock Exchange and secondary listings on Euronext Amsterdam and the New York Stock Exchange.

Shell’s asset sale in Egypt includes its stake in 13 onshore concessions and its share in the Badr El-Din Petroleum Company. Completion is subject to government and regulatory approvals and is expected to occur in the second half of 2021.

The London-based team was led by senior associate Andrew Davies, supervised by corporate energy partner Hussain Kubba, and supported by associate Jarrett Whitehead. Partner Fiona Millington also provided ECM support.

Hussain Kubba commented: “This high-profile deal in Egypt forms part of Shell’s wider strategy to diversify its Upstream portfolio. We have recently seen a number of significant M&A transactions in the Egyptian Oil & Gas sector, and this transaction further demonstrates our deep bench of experience in terms of both the sector and jurisdiction.”

Maarten Hillen, Senior Legal Counsel at Shell, commented: “As in previous transactions, cooperation with Norton Rose Fulbright was seamless and very effective.

The team knows Shell’s ways of working, with a strong focus on in-house support, and added real value to the areas that were material to this transaction.”

Norton Rose Fulbright Overview

Norton Rose Fulbright is an international law firm. It is the second largest law firm in the United States and one of the ten largest in the world, by both lawyers and revenue. In 2017/18, Norton Rose Fulbright had total revenue of US$2.1 billion.

Samantha Levine appointed as Senior Vice President of JLT Specialty

JLT Specialty, a U.S. subsidiary of Jardine Lloyd Thompson Group plc. (LSE:JLT.L), the leading global specialist risk advisor and broker, is pleased to announce the appointment of Samantha Levine as Senior Vice President of JLT’s Cyber / E&O Practice.

Based in Denver, Levine will be responsible for advising JLT’s clients on complex areas of Errors & Omissions and Cyber risk, through exposure identification and assessment, prioritization of complex areas of risk, and the creation of solutions to minimize the impact to their reputation and balance sheet.

Levine comes to JLT from Aon, where she served as Vice President within the Professional Risk Solutions team. During this time, Levine advised clients in the Western US, and also provided national expertise in Network Security & Privacy and technology risks. Levine specialized in creating bespoke solutions for her clients for what were deemed “uninsurable risks”. Furthermore, she co-led Aon’s Professional Risk Solutions Policy Committee, where she negotiated language enhancements with senior legal and underwriting leadership.

“We are committed to bringing the best resources to our clients,” said Shannon Groeber, Executive Vice President at JLT Specialty. “Samantha’s in-depth experience working in complex areas of risk will be an invaluable asset to our clients and the company.”

“The appointment of Samantha further strengthens our Cyber/E&O team,” said Pat Donnelly, Chief Executive Officer at JLT Specialty. “Having Samantha on our team is a reflection of our on-going commitment to hire the best professionals in our industry.”

Levine holds a Bachelor of Arts degree from Boston College and a Juris Doctorate from University of Kansas School of Law.

About JLT Specialty

Jardine Lloyd Thompson is one of the world’s leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services. JLT’s client proposition is built upon its deep specialist knowledge, client advocacy, tailored advice and service excellence. JLT is quoted on the London Stock Exchange and owns offices in more than 40 territories with over 10,000 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries. For further information about JLT, please visit our website www.jlt.com and follow us on LinkedIn at JLT Group and Twitter @JLTGroup.