A&O, LeBoeuf take on Newfield divestment

Allen & Overy (A&O) and US firm LeBoeuf Lamb Greene & MacRae have secured the $486.4m (£243.87m) disposal of Newfield Exploration Company’s UK subsidiary to Centrica, the UK’s biggest energy supplier.

The deal sees Centrica take an 85 per cent stake in the Grove gas field, which started production this summer, as well as an 80 per cent stake in the Seven Seas gas development.

A&O’s team was led by corporate partners Mark Dighero and Anna Buscall. The magic circle firm is a member of Centrica’s panel, along with Ashurst, Eversheds, Herbert Smith and Linklaters.

Newfield is also a longstanding client of LeBoeuf, whose team was led by London-based corporate partner Christopher Prior.