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Deal Date: 24-02-2014 Practice Area: Corporate and M&A
Deal Title: Arabtec Holdings Purchase of Target Engineering Shares Industry: Oil Equipment, Services & Distribution
Trowers & Hamlins is acting for the founding shareholders on the sale of 38% of the share capital of Target Engineering Construction Co LLC (Target) to Arabtec Holdings PJCS (Arabtec), which was a 60% shareholder of Target. The transaction is valued at approximately USD73 million. Target is one of the leading single source engineering, procurement and construction (EPC) contractors in the UAE and focuses on EPC work in the oil and gas sector. Target has operations in the UAE, Qatar, Saudi Arabia and other countries. The team is led by partner Guy Danalis who is assisted by senior associate Shaun Hardiman.
Financial Center: Abu Dhabi Value: 0.00-100.00
Advised Party: Vendor Law Firm
Target Company Jurisdiction: UAE Acquiror Jurisdiction: UAE
Classification: Strategic Buyer Acquisitions Private Company
Lawyer Guy Danalis