Denton Wilde Sapte reprises advisory role for MENA Infrastructure fund's investment in Oman's power sector |
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Denton Wilde SapteDenton Wilde Sapte
continues to act as legal advisor for MENA Infrastructure Fund, picking up an instruction to advise on its second investment, in which it has taken 32.8% of the shareholding in Oman's United Power Company SAOG (UPC)United Power Company SAOG (UPC).UPC owns a 270 megawatt power station in Manah, and is listed on the Muscat Securities Market. The 32.8% holding in UPC was opened to a competitive bid process when GDF Suez was ordered to divest its founders' shareholding by the Omani Electricity Regulator.
"We're pleased to have acted again on another successful regional acquisition for MENA Infrastructure Fund. Our Dubai and Muscat offices combined to provide a full international and local law service, which, together with our leading expertise in the power sector, delivered the right result in a strongly contested bid process," says Dubai Corporate partner Neil Nicholson.
The $500 million private equity fund is sponsored by HSBCHSBC, Waha CapitalWaha Capital and Dubai International CapitalDubai International Capital and invests in projects and companies in their early stages of development across the Middle East and North Africa.
Denton Wilde SapteDenton Wilde Sapte's Middle East Corporate team advised MENA Infrastructure Fund on its first investment in April 2008, which saw it acquire an interest in two container terminals in Egypt.
Neil led the Denton Wilde SapteDenton Wilde Sapte team with Muscat partners Mary Allan and George Sandars. They were assisted by Dubai associate Kerri Dewe, senior associate Ian McGrath, and Muscat associates Victoria Noble and Hashim Abdel Malik.
-Ends-
Media Contacts
Deborah Rothfield
PR Manager
Tel 020 7320 6017
Email deborah.rothfield@dentonwildesapte.com
Duncan Miller
Senior PR Executive
Tel 020 7320 6193
Email duncan.miller@dentonwildesapte.com
www.dentonwildesapte.com
© Press Release 2009
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