Clyde & Co advises the shareholders of AlMansoori Petroleum Services on its disposal to TAQA

  • Press Releases 13 September 2022 13 September 2022
  • Middle East

  • Energy & Natural Resources

Global law firm Clyde & Co has advised the shareholders of AlMansoori Petroleum Services LLC (“AMPS”) on its 100% disposal to Industrialization and Energy Services Company (“TAQA”).

Clyde & Co advises the shareholders of AlMansoori Petroleum Services on its disposal to TAQA

The transaction is expected to close in the fourth quarter of 2022, subject to obtaining all relevant approvals and satisfying other conditions to closing.

AMPS has a successful track record of 45 years in the MENA region, bringing to TAQA a long-established, well-diversified MENA-based business with a track record of strong performance and longstanding relationships with large oil and gas companies in the region. In addition, this is a big step for TAQA in its journey to realise the ambitious goals of Saudi Arabia's Vision 2030.

Clyde & Co acted as lead counsel to the shareholders of AMPS. Our cross-practice team was led by Partner Stephen McKenna (Corporate) and Senior Associate Matthew Gearing (Corporate) who were supported by Associate Julia Wolks (Corporate). The corporate team were further supported by Partners Richard Bell (Commercial Disputes), Mark Devaney (IP), Rebecca Ford (Employment), Adil Hussain (Finance), Sara Khoja (Employment), Alexis Waller (Real Estate), Dino Wilkinson (Commercial), Legal Directors Sam Ellaby (Employment), Nicole Giblin (IP), Senior Associates Jennifer Eakins (Commercial Disputes), Amy Guest (Employment), Nerissa Loong (Construction), Masha Ooijevaar (Commercial), Ken Wong (Commercial) and Associates Khaled AlMulla (Commercial Disputes) and Chaya Gupta (Finance).

Stephen McKenna, comments: “We are delighted to act as lead counsel to the sellers. Working collaboratively with colleagues across our wider practice groups, we have been able to advise on the entire life cycle of the transaction. We look forward to continuing to support the sellers through to completion of this landmark deal.

Clyde & Co has a top tier corporate/M&A team in the Middle East. The team have recently advised Aldar on its USD 1.17 billion acquisition of four prime Grade A commercial towers in the ADGM from Mubadala Investment Company – the acquisition represents one of the largest real estate transactions in the UAE; advised noon on its AED 1.23 billion (USD 335.2 million) acquisition of Namshi from Emaar Malls; advised Oliver Wyman on its acquisition of Booz Allen Hamilton’s strategy consulting business serving the Middle East and North Africa region; and advised Aldar on its AED 810 million acquisition of the beachfront resort, DoubleTree by Hilton Resort & Spa Marjan Island in Ras Al Khaimah.

Clyde & Co has the largest presence and is one of most experienced international law firms in the region with over 40 partners and 300 staff, based full time in Abu Dhabi and Dubai in the UAE, Doha in Qatar, and Riyadh in Saudi Arabia. The firm supports international and local organisations throughout the wider region with a full-service offering of local specialists across most business sectors and services of law, including commercial, commercial disputes, corporate, cyber risk, data protection & privacy, employment & immigration, finance, global recoveries, insolvency & reorganisation, intellectual property, international arbitration, projects & construction, real estate, regulatory & investigations, and technology, outsourcing & data.

Learn more about Clyde & Co in the Middle East