Practice Areas - Project Finance and Infrastructure Law Firms and Lawyers
| Deal Date: | 23-06-2020 | Practice Area: | Project Finance and Infrastructure |
| Deal Title: | Consortium Investment in ADNOC Gas Pipeline Assets | Industry: | Oil & Gas Producers |
| Description: |
Simpson Thacher represented a consortium of investors, comprising of Global Infrastructure Partners, Brookfield Asset Management, Singapore's sovereign wealth fund GIC, Ontario Teachers' Pension Plan Board, NH Investment and Securities and Snam in its energy infrastructure deal with The Abu Dhabi National Oil Company. The Consortium was to invest in select ADNOC gas pipeline assets valued at USD20.7 billion.
The Consortium collectively acquired a 49% stake in ADNOC Gas Pipeline Assets LLC a newly formed subsidiary of ADNOC with lease rights to 38 pipelines covering a total of 982.3 kilometers, with ADNOC holding the 51% majority stake. Under the terms of the agreement, ADNOC leased its ownership interest in the assets to ADNOC Gas Pipelines for 20 years in return for a volume-based tariff subject to a floor and a cap.
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| Financial Center: | New York | Value: | 5000.01-10000.00 |
| Advised Party: | Purchaser | Law Firm | Simpson Thacher |
| Assets Jurisdiction | UAE | Purchaser Jurisdiction | United States |
| Classification: |
Transfer of Infrastructure Assets Oil & Gas Assets |
Lawyer | Eli G Hunt |
