Eni Acquires First Calgary Petroleums for $1.3B

On November 21, 2008, Eni S.p.A., through an indirect wholly owned Canadian subsidiary, completed a plan of arrangement to acquire all of the outstanding common shares and convertible bonds of First Calgary Petroleums Ltd. (FCP) for aggregate consideration of approximately $1.3 billion. FCP is a Calgary-based oil and gas company actively engaged in exploration and development in Algeria. Eni, headquartered in Rome, is one of the largest integrated energy companies in the world engaged in the oil and gas, electricity generation, petrochemicals, oilfield services and engineering industries.

Eni was represented by Marco Bollini, general counsel of Eni's E&P division, with assistance from Marina Mercante, assistant general counsel – North Africa and Middle East, and Stikeman Elliott LLP with a team that included Brian Pukier, Jeffrey Elliott, Aaron Fransen, Amanda Field and Elise Lenser (corporate), Paul Collins, D. Jeffrey Brown and Michael Kilby (regulatory), John Lorito and Francesco Gucciardo (tax), Gary Clarke (employment) and Michael Mestinsek (litigation).

First Calgary was represented by Burnet, Duckworth & Palmer LLP with a team that included Gary Bugeaud, Grant Zawalsky, Shannon Gangl, Kelsey Clark, Shawn Poirier, Dale Masson and Kent Breedlove (securities); Dan McDonald (litigation); Richard Smith and Bob Graham (employment); Alicia Quesnel (regulatory) and Jeff Fortin (tax). FCP's significant shareholders, Waterford Finance & Investments Limited and Wellington Management Company, LLP, were represented by William Fung and Pat Finnerty of Blake Cassels & Graydon LLP and Steven Hoffman, in-house counsel, respectively.