Exxon and Eni Hire Wolf Theiss and Schoenherr

Oil and gas heavyweights ExxonMobil and Eni have drafted in Wolf Theiss; one of the leading law firms in Central and Eastern and Southeastern Europe and Schoenherr also one of Austria’s leading law firms with a substantial international practice, to advise on an exchange of Austria-based assets.

ExxonMobil, the world’s largest oil and gas corporation, is selling its local operations to Italy’s Eni. The value is unconfirmed but the deal, which is due to close in the summer 2010, covers a 100% stake in Esso Austria and Mobil Oil Austria. ExxonMobil has over 130 Esso service stations in Austria.

Wolf Theiss worked for ExxonMobil through Andreas Schmid. “The withdrawal of ExxonMobil from the Austrian market is a very complex transaction which is reflected in the lengthy bidding process. After several months of contract negotiations with Eni, today’s signing represents a significant milestone for our client,” he explained.

Schoenherr acted for the Italian energy company. The team included Anna-Maria Platzer, Christian Herbst and Michael Walbert.