Simpson Thacher Represents Royal Bank of Scotland in Commodities Trading Joint Venture With Sempra Energy
07.17.07
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The Firm is representing The Royal Bank of Scotland PLC (LSE: RBS) in connection with the formation of a global commodities trading joint venture with Sempra Energy (NYSE: SRE). The joint venture, to be called RBS Sempra Commodities LLP, will combine the commodities trading operations held by various subsidiaries of Sempra Energy in a transaction valued at approximately $2.6 billion. The joint venture represents a unique combination of an industry-leading commodities trading operation with one of the world's largest banking and financial services organizations. The joint venture brings together RBS, the 2nd largest banking group in Europe by market capitalization and one of the largest in the world, with Sempra Commodities, one of the world's leading natural gas, power, petroleum and metals trading operations.
The Simpson Thacher team working on the transaction includes: Michael Nathan, Brian Chisling and Jeremy Saks (M&A); John Walker and Carla Crawford (Banking); Peter Rosen and Jason Vollbracht (Tax); Brian Robbins and Rachel Berry (Employee Benefits); Amy Beller, Brijesh Dave, Abram Ellis and Devin Ryan (Regulatory and Litigation) Michael Isby and Timothy Mulvihill (Environmental); and Laurie Gay, Robert Griffith and Edward Shen (Corporate).