Related services and key industries
- Corporate, M&A and securities
- Bankruptcy, financial restructuring and insolvency
- Emerging markets
- Oil and gas
Key industry sectors
Charez Golvala is a corporate lawyer with a focus on transactions in emerging markets. He has spent most of his career executing complex, cross-border deals for sophisticated, international clients. He has led teams on a wide range of matters in Eurasia, the Middle-East, Africa and Latin America, covering industries as diverse as oil and gas, banking, insurance, retail, pharmaceutical, agriculture and telecoms.
His clients value him because of his ability to rapidly absorb and analyse complicated legal and commercial situations, usually outside his home jurisdiction, and find and implement effective solutions that achieve their commercial goals.
Charez has a broad corporate practice, advising clients on acquisitions and disposals, joint ventures, corporate restructuring, strategic alliances and other commercial transactions. He has in-depth experience of upstream and midstream oil and gas matters in many jurisdictions, including advisory, transactional and disputes work on a wide variety of industry-specific contracts and issues.
Charez has represented clients ranging from entrepreneurs to multinationals, private funds, national oil companies, multi-lateral agencies and integrated oil and gas majors in countries as varied as Kazakhstan, Turkey, Trinidad and Ireland.
Charez is highlighted by The Legal 500 UK 2014 for taking a lead role in advising AES on the sale of its interest in two electric companies in Ukraine. He was also highlighted in The Legal 500 UK 2013 for leading the team advising Horizon Capital on its acquisition of a minority stake in Ukraine based IT company Ciklum. His clients say Charez Golvala is “invaluable”.
- 1991 - Law Society Finals, The College of Law, London, UK
- 1988 - LL.B., with honours, The London School of Economics and Political Science
- England and Wales
- Represented The AES Corporation in connection with the sale of its entire interest in three electricity businesses in Cameroon to emerging markets investor Actis for US$202 million.
- Represented Bank of Cyprus on the sale of its Ukrainian subsidiary, PJSC Bank of Cyprus, and associated debt to Alfa Group, Russia’s largest privately owned banking group, for €202.5 million.
- Represented Origin Enterprises plc, an agricultural services group listed on the Dublin Stock Exchange and AIM, on its acquisition of 60% of Agroscope Ukraine, an importer and distributor of seeds and agrichemicals, creating a new joint venture in Ukraine.
- Represented American Capital Energy & Infrastructure (ACEI) on its US$130 million investment in Azura Power Holdings Ltd., the leading independent power company in Nigeria, which is developing Azura-Edo power project near Benin City in Nigeria.
- Advised Emerging Europe Access Fund, a leading Romanian private equity fund, on all English law aspects of its acquisition of Nexte Bank in Romania from MKB Bank.
- Acted for FMO, the Dutch development bank, on its sale of the Confoco group (a leading banana and tropical fruit processing business based in Ecuador) to Diana Naturals.
- Advised the international lenders to PJSC Kreditprombank on the sale of their remaining debt and equity interests to Deltabank.
- Advised The AES Corporation on the disposal of its interests in Kyivoblenergo and Rivneoblenergo, two regional power distribution companies in Ukraine, to VS Energy International.
- Acted for Horizon Capital, a major private equity investor in Ukraine, in connection with its investment in the leading Ukrainian software outsourcing company Ciklum.
- Advising a leading commodities trading business on its potential acquisition and development of a port and logistics facility in Russia.
- Advised a group of 28 international lenders in connection with the conversion of over US$100 million of senior debt to an equity investment in PJSC Kreditprombank and led the corporate aspects of this complicated and long-running restructuring.
- Advised the shareholders of AnviLab, a leading Russian pharmaceutical brand, in connection with the sale of the company.
- Advised Jensen Group, a leading real estate investment and development company, in the acquisition of prestigious retail property from VTB Bank, including Nevsky Passage in St. Petersburg.
- Advised OAO Polymetal in connection with a share acquisition of a company owning the Svetloye gold deposit from Fortress Minerals Corp.
- Advised a Russian client in connection with the acquisition of a company constructing a luxury hotel in Moscow.
- Assisted in representing International Finance Corporation in connection with an equity investment to support the modernisation and expansion of HeidelbergCement’s operations in Sub-Saharan Africa.
- Advising the owner of a London-based foreign exchange business in connection with the restructuring of his shareholding and the establishment of an innovative management share incentive scheme.
- Advising Dowa Insurance Company on the UK corporate aspects of its merger with Aioi Insurance.
- Advising an international commodities trading business on its potential joint venture and development of a port facility in the Odessa region of Ukraine.
- Acting for a Middle-Eastern bank on the acquisition of a bank in Turkey with a significant retail banking portfolio.
- Acted for Evrotek Group on the US$30 million investment in its Fresh retail business in Ukraine by Horizon Capital and IFC.
- Advised Bank Hapoalim in relation to its announced US$135.3 million acquisition of approximately 76% of the issued share capital of Ukrainian Innovation Bank from selling shareholders.
- Acted for Marfin Popular Bank in relation to its acquisition of a 50.04% stake in Rossisysky Promishlenny Bank (Rosprombank) based in Moscow for €83 million.
- Advised Carlton Screen Advertising on the sale of its UK screen advertising business to Digital Cinema Media, a joint venture of Odeon and Cineworld.
- Acted for Bank of Cyprus on its acquisition of approximately 97% of Ukrainian bank AvtoZAZBank for €52 million.
- Assisted the owners of a chain of Ukrainian retail cosmetic stores with the sale of a strategic stake in the business to a consortium backed by Goldman Sachs and Sigma Bleyzer.
- Advised ICT Group on its sale of a strategic interest in NOMOS Bank to the Czech PPF Group.
- Advised a Ukrainian property company in connection with the proposed US$850 million disposal of a portfolio of property development assets to Ukraine’s leading real estate investment company.
- Assisted Dubai International Capital with its investment in a regional telecoms company.
- Advised International Insurance Company of Hannover on its investment in and brokerage arrangements with Synergy Insurance Services.
- Acted for Marfin Popular Bank on its US$137.4 million acquisition of Marine Transport Bank and its affiliates in Ukraine.
- Advised Chagala Group, a Kazakh hotel and real estate developer, in connection with its initial public offering of global depository receipts and admission to listing on the main market of the London Stock Exchange.
Oil & gas
- Advising in connection with a dispute between joint venture participants and government entities under the terms of an operating agreement and hydrocarbon concession in Latin America.
- Acting for a Chinese oil and gas company on its acquisition of significant oil and gas reserves in Kazakhstan from a group of individuals.
- Advising Impexbrand on its investment in a Ukrainian gas production, storage and distribution business.
- Acting on behalf of the owners of Tarbagatay Munay LLP in connection with the sale to Xinjiang Guanghui Industry Co. Ltd of an interest in the Zaysan field in Kazakhstan and the development of an onshore LNG facility in China.
- Assisted the majority shareholders of a holding company with interests in two significant oil fields in Kazakhstan on the US$400 million sale of their shares to a Chinese company.
- Advised Gazprom in relation to the shareholders’ agreement for the Shtokman gas and condensate field and LNG development project in the Barents Sea.
- Advised in connection with various issues arising on the Karachaganak field in Kazakhstan, on behalf of a major oil and gas company.
- Acted for China National Petroleum Corporation on the acquisition of oil and gas interests in the Middle East.
- Assisted Roxi Petroleum plc (an AIM-listed company) with its acquisition of certain Kazakh companies owning subsoil rights and its readmission to AIM.
- Acted for China National Petroleum Corporation on the sale of part of its interest in the strategic Shymkent refinery in Kazakhstan to KazMunaiGaz.
- Acted for Endeavour Energy Corporation in connection with the acquisition of Talisman Expro, a company owning a portfolio of North Sea assets, for US$414 million.
- Assisted BG Group in connection with the fourth train of Atlantic (LNG)'s facilities in Trinidad, including work on the development, funding and construction of the project.
- Drafted, on behalf of BG Group, the fully termed gas transportation agreement for the Cross Island Pipeline in Trinidad.
- Advised in relation to the successful defeat of an attempt to exercise pre-emption rights in connection with a North Sea asset disposal.
- Acted for Crédit Agricole Indosuez on the £20 million project financing of the development of three proven gas fields in the southern gas basin of the North Sea.
- Acted for Duke Energy and Ramco Energy on the development and project financing of the Seven Heads gas field in the Celtic Sea.
- Advised a major international integrated oil company on the operation and legal effect of production payment financing under English law in Russia.
- Drafted and negotiated an abandonment agreement for the Beatrice Field in the North Sea, where only one licensee remained.
- Negotiated detailed arrangements on behalf of non-operators of a major North Sea oilfield regarding the correct pricing and allocation of imported and owned gas.
- "Cross-border restructuring in emerging markets," Financier Worldwide, August 2016
- "Getting closure: deal certainty in an uncertain market," Financier Worldwide, June 2014
- "Feel Free to Tear it Up: Oral Variation Resurrects Unlawful Break Fee," Corporate Practice NewsWire, September 2012
- "Changing Constants," Petroleum Review, August 2012
- "Effect of Buyer’s Knowledge on Claims: How to Sandbag in New York, London and Istanbul," Corporate Practice NewsWire, May 2012
- Author, "Upstream Joint Ventures - bidding and operating agreements," Oil and Gas: A Practical Handbook published by Globe Law and Business
- Frequent speaker at conferences on the energy industry and in particular has spoken about decommissioning liabilities in North Sea transactions; corporate issues in creating emissions trading systems; issues in mining laws and its application to financing mining projects; alternatives to production sharing contracts; and planning a major disposal in the energy and natural resources sectors.
- Member, Association of International Petroleum Negotiators
- Member, UK Energy Lawyers’ Group (IBA)
- Member, Energy Institute
- Member, The Law Society
Publication | September 03, 2020
Blog | August 15, 2020