Clyde & Co advises Al Bawardi Enterprises on strategic deal with NMDC Group

Clyde & Co has acted as lead legal counsel to Al Bawardi Enterprises LLC, the majority seller of a 70 per cent equity stake in Emdad LLC to NMDC LTS, a wholly owned subsidiary of NMDC Group. Emdad is an integrated service provider specialising in the oil and gas, utilities, and industrial sectors.

This landmark transaction underscores Clyde & Co’s expertise in complex UAE and cross-border mergers and acquisitions and partnerships within the energy sector. This strategic acquisition enables NMDC Group to expand into the OPEX segment of recurring revenues in the oilfield services, further diversifying its portfolio and strengthening its competitive advantage. In parallel, this acquisition will provide NMDC Group with a broader range of services and additional avenues for revenue growth, with Emdad’s offering spanning over an array of different services, including well intervention, waste management, shutdown/ turnaround, coil tubing, valves, among other services. Emdad reported revenues in excess of AED600 million in 2024 and its equity stood at AED217 million.

Clyde & Co provided comprehensive legal counsel to Al Bawardi Enterprises throughout the transaction, advising on all corporate matters related to the sale to and new partnership with NMDC. The firm’s deep understanding of the energy sector and its regulatory landscape was instrumental in navigating the complexities of this deal. The Clyde & Co team included partner and Head of Corporate (Middle East), Naji Hawayek (Dubai), legal director, Nisha Johar (corporate, Dubai), senior associate, Kinshuk Kislaya (corporate, Dubai) and associate, Eimhéar O’Kane (corporate, Dubai).