Media Mention

Nova Daly Discusses Rosneft and Morgan Stanley Failed Oil Deal

Bloomberg News
December 29, 2014

Nova J. Daly, a senior public policy advisor in Wiley Rein’s International Trade Practice, was quoted by Bloomberg News in an article about the failed oil deal between U.S. bank Morgan Stanley and Russian state-owned oil company OAO Rosneft.

According to the article, Morgan Stanley and Rosneft said Monday that the deal expired after the companies failed to reach “regulatory” approval.  It is likely that the Committee on Foreign Investment in the United States (CFIUS), the committee responsible for examining foreign acquisitions for national security concerns, did not have a favorable view of the transaction.  Rosneft is among the companies targeted by U.S. sanctions this year, resulting from the Russia/Ukraine conflict.

Mr. Daly, who is a former Treasury Department official that managed CFIUS reviews, explained, “there are rare instances where CFIUS will notify a company that it will not recommend presidential support for a transaction, which can then prompt the companies to walk away from a deal.”

To read the entire article, click here.

Read Time: 1 min

Related Professionals

Contact

Maria Woehr Aronson
Director of Communications
202.719.3132
maronson@wiley.law 

Molly Peterson
Senior Communications Manager
202.719.3109
mmpeterson@wiley.law

Jump to top of page

Necessary Cookies

Necessary cookies enable core functionality such as security, network management, and accessibility. You may disable these by changing your browser settings, but this may affect how the website functions.

Analytical Cookies

Analytical cookies help us improve our website by collecting and reporting information on its usage. We access and process information from these cookies at an aggregate level.