Orrick Advises Sellers in H.E.C. Europe Acquisition


An Orrick London team has advised the sellers — Precitox Holdings, Oratosio Holdings and Humberto Finance — in the $367 million sale of 100% of the share capital of H.E.C. Europe Limited, the parent company of Hellenic Environmental Center and a group of companies that together provide global port reception facilities services, to Aegean Marine Petroleum Network.

The purchase price includes the assumption of certain indebtedness, payable via a combination of debt, the assignment of certain accounts receivables, cash and shares of Aegean common stock.

The acquisition, which does not require the approval of Aegean’s shareholders, was unanimously approved by the Aegean Board, upon the recommendation of a special committee of independent directors.

The Orrick team included partners Ed Denny and Shawn Atkinson and associate Bridget Winters.