International law firm, Reed Smith has advised n.v. Nuon, alongside Dutch law firm Loyens & Loeff, on its acquisition of Burlington Resources Nederland Pertroleum B.V. (BRN), from ConocoPhilips, for a total transaction value of €476m.

Nuon, a Dutch energy company, produces and transports electricity, gas, heating and cooling supplies throughout the Netherlands, Belgium and Germany. The deal, which was subject to a competitive auction process, involved the purchase of 100% of the share capital of BRN’s upstream gas assets on the Dutch North Sea.

The Reed Smith team was led by Richard Shine and the Loyens & Loeff team was led by Philip van Verschner.

Richard Shine, partner in Reed Smith’s EME corporate group, commented:

“This acquisition is yet another example of the heightened activity in the upstream energy sector and highlights the further diversification of North Sea assets as some of the leading oil and gas companies look to consolidate their global positions.”

ENDS

Note to Editors:

About Nuon

With a turnover €5.7b in 2007, Nuon occupies a prominent position in the Dutch energy market.

For more information please visit: http://www.nuon.com/index.jsp 

About Burlington Resources Nederland Petroleum B.V.

Burlington Resources Nederland Petroleum B.V. is an exploration and production company with a diversified portfolio including gas production, development, transportation and processing infrastructure.

About Reed Smith

Reed Smith is one of the 15 largest law firms in the world, with more than 1600 lawyers in offices across Europe, the Middle East, Asia and the United States.

We advise many of the world’s leading organisations on cross-border transactions, complex dispute resolution and regulatory matters.

For further information please visit www.reedsmith.com or contact:

Richard Shine, Reed Smith partner
T: +44 (0)20 7556 6857
E: rshine@reedsmith.com

Jeyda Star, senior branding and communications executive
T: +44 (0)20 7772 5949
E: jstar@reedsmith.com