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Pannone Represents Chevron in Sale of Fuels, Lubricants and Fuel Card Businesses
Manchester law firm Pannone LLP has represented Chevron Limited on the sale of its equity distributor business to GB Oils Limited, a subsidiary of DCC plc. The agreement for sale is valued at £21.9m and is expected to be completed in the third quarter of 2008.
GB Oils will assume ownership of a number of fuels, lubricants and fuel card businesses. The trading names include Bates & Hunt, James D Johnson, Team Flitwick, GE Stevens, Able Energy, Vectis Oils, OJ Williams and Owen Fuels and the agreement enables GB Oils to maintain use of the Texaco brand.
Corporate solicitors Soren Tattam and Ursula Gould jointly led Pannone’s legal team comprising of corporate assistants Mike Brown and Anna Gregory and Partners Amanda Howlett (Product Supply and Competition), Jack Harrington (Employment) and Samantha Blackburn (Commercial Property) who have worked closely with the in-house team at Chevron to conclude this deal.
Soren Tattam said, "It has been a pleasure and a privilege for us all to have had the opportunity to assist Chevron to realise this strategic divestment".