Linklaters advise Fundação Calouste Gulbenkian on the sale of Partex Holding B.V. to PTTEP HK Holding Limited for up to US$622m

Linklaters have advised Fundação Calouste Gulbenkian (the “Foundation”) on the sale of Partex Holding B.V. to PTTEP HK Holding Limited, a subsidiary of PTT Exploration and Production Public Company Limited from Thailand for up to US$622m, subject to customary adjustments. 

The multi-jurisdictional transaction will include assets in Oman, Abu Dhabi, Kazakhstan, Brazil, Angola and Portugal. 

The Foundation is a Portuguese charitable fund which was created in 1956 by Calouste Sarkis Gulbenkian, a philanthropist who lived in Lisbon between 1942 and his death in 1955. Through his vision, contacts and persuasive skill, Gulbenkian played a decisive role in the first half of the twentieth century, mediating international negotiations that led to the development of the rich oilfields in the Middle East. The Foundation’s main purpose is to improve the quality of life through art, charity, science and education. In addition to its cultural activities, the Foundation fulfils its mission through innovative programmes, providing scholarships and grants to other institutions and social organisations.

The Linklaters team was led by corporate partner Owen Clay, with projects partner Mark Russell, managing associate Dominic da Gama Campos and associate Prateek Andharia. 

Jefferies International Limited were the Foundation’s financial adviser and Morais Leitão Galvão Teles, Soares da Silva & Associados were the Foundation’s Portuguese legal counsel.