Andrew Davies
Andrew is a corporate energy lawyer with Norton Rose Fulbright LLP in London. Andrew’s practice is focussed on complex domestic and cross-border private M&A, joint ventures, private equity investments and corporate advisory work (restructurings, capital maintenance and general advisory), with a particular focus on the energy sector.
In that regard, Andrew advises a broad range of clients on corporate transactions across the energy spectrum, including upstream and downstream oil and gas, onshore and offshore wind, biomass, solar, battery storage, power and broader energy infrastructure. His clients include IECs, private equity funds, start-ups, venture capital funds and corporates.
Having trained and qualified with Norton Rose Fulbright LLP, Andrew has undertaken secondments with bp's M&A Legal team in London, ExxonMobil at their EMEA headquarters in Leatherhead and the firm's Paris office.
Practice Area
Panel
- Contributing Author
Qualified Year
- 2014
Experience
- Norton Rose Fulbright LLP (2012 - Present)
Membership
- Association of International Energy Negotiators
Qualifications
- Accelerated Legal Practice Course (2012)
- Master 1 en droit européen (2010)
- LLB (European) (2010)
Education
- BPP Law School (2012)
- Université de Rennes I (2010)
- University of Exeter (2010)
1 Contributions by Andrew Davies
PRACTICE NOTES
Allocating Risk in Oil & Gas M&A SPAs under English Law: Warranties, Indemnities, Interim Covenants, Limitations and Other Protections
Oil & Gas M&A—SPA risk allocation
Introduction
During the due diligence phase, any matter that causes concern will be highlighted in the relevant teams’ reports (legal, technical, financial), together with recommendations on the most effective way to address it. Such reports identify the concerns, cite the responsible legal, technical and financial teams, and set out how best to resolve them. For broader guidance on diligence topics in oil and gas deals, see Practice Note: Due diligence and warranties in oil and gas M&A transactions. Commonly, the key mechanisms used within the sale and purchase agreement (SPA) to tackle identified risks, and to apportion exposure between buyer and seller, include the following:
warranties
indemnities
interim period covenants
The diligence exercise is fundamental to the contemplated acquisition, because its conclusions (legal, financial and/or technical) will shape the precise warranties and indemnities sought, as well as any bespoke purchase price adjustments and interim period covenants that the buyer will press to include in the SPA. There is no universal solution—the mix of warranties, indemnities and interim period covenants, alongside any deal-specific pricing adjustments, will be dictated by the distinct features of the particular transaction. Consequently, this Practice Note offers a general overview of...
Energy
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