$1.8 Billion International M&A Double

London / Moscow August 29, 2007 ... White & Case has acted on two near billion-dollar M&A deals in the space of a week through its involvement in Sibir Energy's acquisition of the Moscow Oil and Gas Company and ABB's divestment of its Lummus Global business.  In the two deals White & Case represented:

• Leading power and automation technology group, ABB, in the sale of its Lummus Global business to Chicago Bridge & Iron company for an enterprise value of $950 million.  Lummus Global provides proprietary process technologies, project management, and engineering, procurement and construction management services to the oil and gas, petrochemical and refining industries.  The sale, which is part of ABB’s strategy to focus on its core businesses in power and automation technology, is subject to regulatory approval and that of Chicago Bridge & Iron's shareholders.  The White & Case team was led by London-based partner Mats Sacklén, working with associate Nicole McMahon in London and partner Greg Pryor and associate Ken Regensburg in New York, along with a number of other partners and associates from around the Firm's network.
• Central Fuel Company, the controlling shareholder in the Moscow Oil and Gas Company, which was bought by AIM-listed oil business Sibir Energy for $922 million in cash and shares.  Central Fuel Company is controlled by the City of Moscow and through the deal has gained an 18.03 per cent stake in Sibir Energy, with an option to buy another 3.16 per cent.  The Moscow Oil and Gas Company's assets include a 240,000-barrel-a-day oil refinery and 139 filling stations.  The White & Case team was jointly led by partner Greg Stonefield in London, working with associates Nicole McMahon and Chong Liang in London.

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Contact:
James Martin
Media Relations Mgr EMEA, White & Case
44 0 20 7532 2853/ 44 0 7939 012 011


Alexandra Henderson
Media Relations Executive, White & Case
44 0 20 7532 2848