India
Simmons & Simmons Hong Kong partners Vivien Yang and Ian Wood are advising ONGC Videsh Ltd., a subsidiary of Indian state-owned Oil and Natural Gas Corp., on its $2.47 billion purchase of an offshore natural gas block in Mozambique. ONGC is buying the 2.6-million acre block together with another state-owned enterprise, Oil India Ltd., from the oil and gas arm of Indian conglomerate Videocon Group. The deal, subject to regulatory approval, is expected to close in the fourth quarter. ONGC was also advised by Lisbon partner Manuel Santos Vítor of Portuguese firm PLMJ and Mozambique’s GLM Lawyers. Amarchand & Mangaldas & Suresh A. Shroff Co. co–managing partner Shardul Shroff and Delhi partners Vidyut Gulati, Nikhil Narayanan, and Puja Sondhi are representing the seller on the transaction. [Read full story]
