Akin Advises Carlyle on its Agreement to Acquire Altera Infrastructure Group’s FPSO Business

(London) – Akin advised global investment firm Carlyle (NASDAQ: CG) on its agreement to acquire Altera Infrastructure Group’s FPSO (Floating Production, Storage and Offloading) business from Brookfield Asset Management.

The portfolio includes Petrojarl Kong FPSO and FSO Yamoussoukro (a Floating Storage and Offloading vessel), both deployed in the Ivory Coast with Eni as part of the first net zero emission upstream project in Africa. The business also includes 50% ownership in the Altera&Ocyan joint venture, which owns and operates the Pioneiro de Libra FPSO, currently deployed in Brazil with Petrobras.

The investment from Carlyle will support the Altera FPSO business through its sector-specific investment team and available follow-on equity capital for accretive growth and M&A. The transaction is subject to customary closing conditions and regulatory approvals.

The cross-practice team advising Carlyle was led by private equity partner David Sewell, with support from private equity partners Sebastian Rice and Stephen Brown; finance partner Inderveer Hothi; oil & gas partner Rob Butler; tax partner Natasha Kaye; corporate senior counsel Tony Barnes; private equity counsel George Burt, Rebecca Carwood Barron and Charlotte Irvine; tax counsel Mohammed Natha and private equity associate Callum James.

The broader Akin team included corporate associates Makeda Brown, Gloriya Andonova and Laura McCrea; finance counsel Bishoy Eskander; employment senior counsel Oliver Spratt and associate Iffat Ahmad; tax associate Gunel Latifova and IP partner Natasha Ahmed.

For further information on the transaction, please click here.

Akin is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.

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