Shearman & Sterling advised Ecopetrol on its joint venture with Occidental Petroleum Corporation to develop 97,000 net acres in the Permian Basin in west Texas. Ecopetrol will pay $750 million in cash plus $750 million of carried capital in exchange for a 49-percent interest in the new venture. Occidental will own a 51-percent interest and operate the joint venture. The deal closed on November 13, 2019.

Shearman & Sterling advised Citigroup Global Markets Inc., which acted as exclusive financial advisor to Continental Building Products Inc. (CBP), in connection with CBP’s sale to France's Compagnie de Saint-Gobain S.A. The deal is valued at about $1.4 billion, or $37 per share.  

Shearman & Sterling represented EnCap Flatrock Midstream Fund IV, L.P. (EFM) in connection with a $400 million equity commitment to Ironwood Midstream Energy Partners II, LLC (Ironwood II). We also represented EFM in connection with Ironwood II’s execution of a purchase and sale agreement with Twin Eagle Pipeline Company, LLC for the acquisition of 100 percent of the membership interests of Twin Eagle Gardendale Pipeline, LLC, an entity that owns a crude oil gathering, transportation and storage system in Dimmit, Frio, La Salle and Zavala Counties, Texas.

Partner Emmanuel Jacomy (Beijing/Singapore-International Arbitration) was appointed on November 5, 2019 to the Expert Advisory Committee of the International Institute for Dispute Prevention and Settlement (IIDPS), jointly established by the China Council for the Promotion of International Trade (CCPIT) and the Beijing Institute of Technology (BIT).

Adam Hakki, Shearman & Sterling’s Global Managing Partner and Global Head of Litigation, has been named Banking “MVP of the Year” by Law360. Adam’s selection for this prestigious honor is in recognition of his preeminent status as counsel to the financial industry and, in particular, a string of high-profile courtroom victories in the last year for major financial institution clients in a wide array of significant securities, antitrust, government and commercial cases.

Shearman & Sterling acted as international counsel to Salini Impregilo S.p.A. (Salini Impregilo) in connection with its €600 million global offering of new ordinary shares completed on November 12, 2019.