Skadden and Linklaters scoop £7.4bn Gazprom roles

Skadden Arps Slate Meagher & Flom advised Roman Abramovich on the $13.1bn (£7.4bn) sale of oil producer Sibneft to Gazprom, which was advised by Linklaters.

Skadden again acted for Russian billionaire and Cheslea FC owner Abramovich, the majority shareholder of Sibneft, as his investment company Millhouse Capital sold its 73 per cent stake in Russia’s fifth-largest oil producer.

Skadden’s European managing partner Bruce Buck and Frankfurt partner Hillary Foulkes led the deal.

Linklaters Moscow managing partner John Goodwin and partner Denis Uvarov advised Gazprom, a state-owned entity.

Gazprom took its stake in Sibneft to 76 per cent with the deal, effectively taking the oil company back under state control.

A slew of investment banks, including ABN AMRO, Dresdner Kleinwort Wasserstein, Citigroup, Credit Suisse First Boston, Goldman Sachs and Morgan Stanley are financing the deal.