Ashurst advises Serica Energy on proposed acquisition of Tailwind Energy

Insight Hero Image

    As part of the transaction, Mercuria, the largest ultimate shareholder of Tailwind, will become a strategic investor in Serica with a 25.2 per cent holding and will enter into a Relationship Agreement with Serica.

    Completion of the acquisition, which is subject to certain customary conditions, is expected to occur in March 2023.

    The transaction is significant to both Serica and Tailwind as it creates an enlarged platform from which to consider future investments in the UK, overseas and in the wider energy sector.

    The Ashurst team was led by corporate partner Nick Williamson, with support from senior associate Quentin Robinson, partner Harry Thimont, senior associates Lester Lim Kok and Maria McAlister, and associate Rebekah Oakes. The wider team included projects partner Adrian Lawrence, associates Sofia Aslam, Zachary Gordon-Boyd and Michael Zamecnik, and trainee William Morgan. Partner Tim Gummer and senior associates Rebecca Kell and Shayaan Zaraq Bari assisted on tax aspects. Employment, pensions and incentives advice was provided by partner Ruth Buchanan, counsel John Gordon and associates Emily Bodger and Leah Fisher. Partner Steven Vaz, senior associate Christopher Eberhardt and associate Lyudmyla Bashynska advised on competition aspects and partner Tom Cummins advised on dispute resolution matters. Real estate counsel David Razzell and digital economy associate Harry Newton also advised.

    Key contacts