Firms act for Eni on its acquisition of an equity interest in ADNOC Refining

the-oath-March-2019-Lexix-Nexis-3

Linklaters acted for Eni on its agreement to acquire from ADNOC a 20 per cent equity interest in ADNOC Refining.

The agreed terms for the 20 per cent equity interest acquired by Eni include a cash price of approximately USD3.3 billion (based on an enterprise value of USD3.9 billion for Eni’s share).

As part of the transaction, Eni also agreed to establish a trading joint venture with the same shareholding interests as ADNOC Refining.

The deal is one of the largest ever refinery transactions and reflects the scale, quality, and growth potential of ADNOC Refining’s assets, coupled with an advantageous location from which to supply markets in Africa, Asia and Europe.

The Linklaters team was jointly led by Mark Russell (Partner, London) and Nicolas Edwards (Partner, Abu Dhabi).

UAE law assistance was provided by Motouk Bassiouny & Ibrahim local firm team led by Ahmed Ibrahim (Partner, Abu Dhabi). Eni’s HSE legal team was advised by BonelliErede, led by Andrea Carta Mantiglia (executive chairman, Dubai), Marco De Leo (partner, Dubai) and Riccardo Bordi (partner, Genoa).

Previous Editions