Linklaters acts for Eni on its acquisition of a 20% equity interest in ADNOC Refining in Abu Dhabi
Linklaters acted for Eni on its acquisition from ADNOC of a 20% equity interest in ADNOC Refining. With a final cash price of approximately US$3.24 billion, the transaction is one of the world’s largest in the refining business.
Eni, ADNOC and OMV, which will acquire a 15% interest from ADNOC, have also established a trading joint venture which is incorporated in the Abu Dhabi Global Market (ADGM) with the same shareholding structure as ADNOC Refining.
ADNOC Refining’s refinery complex in Abu Dhabi is one of the world’s largest, with a total refining capacity in excess of 922,000 barrels per day. This landmark transaction 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.