Freshfields advises Tullow on the proposed sale of its Ugandan interests to TotalFreshfields Bruckhaus Deringer LLP (‘Freshfields’) is advising Tullow Oil plc (‘Tullow’) on the proposed sale of its entire stake in the Lake Albert Development Project in Uganda to Total for $575m in cash plus post first oil contingent payments.
Completion is expected in the second half of 2020, and is subject to a number of conditions, including approval by Tullow’s shareholders and customary government approvals.
The transaction marks the first step in Tullow’s portfolio management programme to raise in excess of $1bn.
The Freshfields team is being led by partners Graham Watson and Sebastian Lawson, with support from senior associate Samira Afrasiabi.
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