Orrick’s London team has advised Precitox Holdings, Oratosio Holdings, and Humberto Finance on the USD 367 million sale of 100% of the share capital of H.E.C. Europe Limited to Aegean Marine Petroleum Network. Aegean was advised by Ince & Co and Seward & Kissel.
H.E.C. Europe is the parent company of Hellenic Environmental Center and a group of companies that together provide global port reception facilities services.
The purchase price includes the assumption of certain indebtedness, payable via a combination of debt, the assignment of certain accounts receivables, cash and shares of Aegean common stock.
The acquisition, which does not require the approval of Aegean’s shareholders, was unanimously approved by the Aegean Board upon the recommendation of a special committee of independent directors.
Orrick’s team advising the sellers included Partners Ed Denny and Shawn Atkinson, supported by Associate Bridget Winters.
The Ince & Co team was led by Partners Matthew Stratton and Stephen Jarvis.