Shearman & Sterling represented Orbeo, the 50/50 joint-venture between Rhodia and Societe Generale, in its agreements to purchase OneCarbon International B.V. OneCarbon is an international company that generates high quality carbon credits by originating, developing, co-developing or financing projects that reduce greenhouse gas emissions. This acquisition will reinforce Orbeo's carbon offset sourcing activity and will also allow it to extend its offer to emission reduction project developers and owners. Thanks to its experienced and multi-disciplinary teams, together with its extended geographical presence, Orbeo will further develop its products and services along the whole carbon value chain.

Shearman & Sterling also represented Rhodia in its first business development investment in biogas technology, advising in the acquisition, via its subsidiary Rhodia Energy, of Econcern's participation in six biogas production projects located in China and Vietnam. Rhodia relies on these early projects to enhance its operational skills and industrial know-how in the renewable energy sector. It also reinforces Rhodia group's commitment to develop greenhouse gas emission reduction technologies.

The closing of this joint acquisition should occur in the course of the second half of 2009.

The Shearman & Sterling team included associates Maud Lefeuvre (Paris-Mergers & Acquisitions) and Armelle Sandrin-Deforge (Paris-Mergers & Acquisitions) and French lawyer Barbara le Chapellier (Paris-Mergers & Acquisitions), as well as partner Niels Dejean (Paris-Tax) and associate Alice Blanchet (Paris-Antitrust).