Bowman Gilfillan, the pan-African legal services group, has advised on the South African leg of a major international transaction that will see Oryx Energies acquire liquefied petroleum gas (LPG) distribution businesses in South Africa from BP and Masana Petroleum Solutions.
Bowman Gilfillan worked with Oryx's French legal advisers, Gide Loyrette Nouel, on the deal, which is expected to be completed during the third quarter of 2013 - subject to completion of legal and regulatory approvals.
BP supplies a wide range of industrial, commercial and domestic customers in South Africa with almost 40 000 tons of LPG each year. The Masana LPG business, in which BP has a 45% interest, serves large commercial and industrial consumers, with annual sales of 20 000 tons of bulk LPG.
Over 45 employees in Johannesburg, Durban and Cape Town will transfer to Oryx Energies’ local affiliate, Oryx Oil South Africa, on completion of the deal.
Oryx Energies is wholly owned by the private group AOG, and is one of Africa’s largest and longest established independent providers of oil and gas products and services. It has operated in South Africa since 2002.
Jonathan Lang, head of Bowman Gilfillan Africa Group, commented: “The transaction follows BP’s global announcement last year that it intended to sell LPG businesses in several countries, including South Africa. That Bowman Gilfillan was selected to advise on the South African leg of this transaction with Oryx Energies is testimony to the Group’s ability to facilitate cross-border legal services of the highest global standards.”