Purchase of a controlling stake from Statoil

Our firm has advised a Danish investor on the purchase from the Norwegian energy company STATOIL of a controlling stake in the biofuel producer Mestilla UAB. The transaction was completed on 24 October 2012.

Mestilla UAB operates one of the most modern rapeseed methylesther or RME production plants in Europe. The plant produces 70-100 thousand tons of biodiesel annually, and the major part of the biodiesel produced is exported to Scandinavian countries.

The Seller, Statoil New Energy AS, is a Norwegian-based subsidiary of STATOIL ASA involved in developing clean energy projects. STATOIL ASA is an integrated energy company listed on the New York Stock Exchange and the Oslo Stock Exchange. It is based in approximately 40 other countries worldwide. By revenue, Statoil was ranked by Fortune Magazine as the world’s 13th largest oil and gas company in 2010, and the largest company in the Nordic region by revenue, profit, and market capitalization.