Paul Hastings Advises Plinacro on Croatian Gas Market Unbundling
London, U.K. (February 04, 2009) Paul Hastings, a leading international law firm, announced today that it has advised Plinacro, the Croatian national oil and gas pipeline company, on the HRK 515 million (US$100 million) acquisition of the natural gas storage business owned by INA, a Croatian subsidiary of Hungarian oil and gas company, MOL.
This strategic acquisition, which forms part of the Croatian Government's market restructuring and unbundling, sees Plinacro acquire storage capacity to complement its existing pipeline transmission business.
Paul Hastings' Head of European Projects, Jonathan Simpson, led a team that included partners David Manny and Michelle Cuttler with associate, Kirk Lovric. Croatian law firm, Laktic & Partners, assisted Paul Hastings and were represented by partner Mislav Laktic, and Natasa Badovinac Ostojic.
Speaking on the deal, Jonathan Simpson, said: "We were delighted to assist our valued client Plinacro on this groundbreaking and highly political transaction. This deal represents a major change in strategic direction for the firm and a major market restructuring. We look forward to helping Plinacro realise the full benefit of this acquisition."
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