Follow us

Herbert Smith Freehills is pleased to have advised Santos Limited (Santos) on its merger with Oil Search Limited (Oil Search) pursuant to a scheme of arrangement whereby Santos acquired all of the issued shares in Oil Search. 

The merger, which was successfully implemented on 17 December 2021, creates a regional champion of size and scale, with a market capitalisation of approximately A$22 billion. Following implementation, Oil Search shareholders hold approximately 38.5% of the merged entity and Santos shareholders hold approximately 61.5%.

The Herbert Smith Freehills team included partners Tony Damian and Robert Merrick, and senior associates Amelia Morgan and Sevan Gore. The team also included solicitors Jennifer Xue and Frances Hewitt.

The Herbert Smith Freehills team worked closely with the Santos team on the transaction, including Jodie Hatherly (Vice President, Environment, Social Responsibility & Governance and General Counsel), Alex Djurasevich (Legal Manager, Merger & Acquisitions and LNG), Amanda Devonish (Company Secretary and Senior Corporate Lawyer) and Christina Handley (Legal).

Tony Damian said, “We are delighted to have advised Santos on such a landmark transaction and a key milestone in Santos’ history. The merger is one of the largest transactions completed in 2021 and demonstrates the ongoing strength of the M&A boom in Australia.”

Key contacts

Tony Damian photo

Tony Damian

Partner, Sydney

Tony Damian
Robert Merrick photo

Robert Merrick

Partner, Perth

Robert Merrick