Ogier has advised Glencore International AG (Glencore) on the sale of a majority stake in HG Storage International Limited (HGSI) to HNA Innovation Finance Group Co Limited (HNA) for US$775m.
Ogier acted as Jersey counsel on the deal, working alongside lead counsel Linklaters, with the team led by partner Raulin Amy and senior associate Oliver Richardson.
HGSI is a new vehicle which has consolidated Glencore’s petroleum products storage and logistics businesses into a global portfolio of assets located in strategic trading hubs across Europe, Africa, the Middle East and the Americas.
Glencore is one of the world’s largest natural resource companies, active in more than 50 countries.
The Chinese buyers were advised by Freshfields.