Clifford Chance’s (CC’s) Sydney office has been given a vote of confidence in taking the lead on Royal Dutch Shell’s $5.7bn sale of a majority stake in Woodside Petroleum as the energy major moves to develop its own gas assets in Australia.
Sydney-based CC M&A partner Lance Sacks is leading the deal alongside Shell’s London-based corporate and commercial solicitor Sean Ashley, in a deal that reduces Shell’s holding in the asset to 4.5% from 23.1%.
