Baker McKenzie advised international Germany energy firm DEA Deutsche Erdoel AG on its acquisition of Sierra Oil & Gas Holdings, LP, a leading Mexican upstream company.

Sierra holds six exploration and appraisal blocks in Mexico covering approximately 9,400 square kilometers in the core part of Mexico’s Sureste basin, including a 40% interest in Block 7, which contains a significant part of Zama, one of the world’s largest shallow water discoveries in the past 20 years. 

Once completed, the transaction will be the largest upstream M&A transaction in Mexico since the liberalization of the petroleum sector in 2013. The deal is expected to close in the first half of 2019.

Baker McKenzie’s cross-border deal team was led by Benjamin Torres-Barron, head of the Firm's Energy, Mining & Infrastructure Practice Group in Mexico, with the assistance of partners Raymundo Enriquez and Alejandro Pérez-Serrano, and of associates Héctor Medina and Carlos Maas. The Amsterdam and Toronto offices of Baker McKenzie also assisted with this transaction. 

Amsterdam

  • Koen Bos 
  • Kim Tan
  • Willem Jan Treuren

Mexico City

  • Gerardo Calderón
  • Mario Facio 
  • Liliana Hernández 
  • Jorge Ledesma
  • Alfonso Martínez
  • Jesús Pérez  

Toronto

  • Nancy Hamzo 
  • Billal Khan
  • Haran Viswanathan

Other participating firms include Akin Gump  King & Spalding, Norton Rose Fulbright, Galicia Abogados, Nader, Hayaux & Goebel, PWC and EY.  

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