Eversheds Sutherland on ADNOC Refining’s consortium deal
Eversheds Sutherland provided legal counsel to Natixis Bank and Arab Petroleum Investments Corporation (APICORP) as lenders in the consortium’s acquisition of ADNOC Refining’s two waste management facilities in the Ruwais Industrial Area of Abu Dhabi.
The consortium, consisting of Vision Invest, ADQ, and Veolia, utilized a groundbreaking project financing structure in the region for the acquisition of the waste management plants.
Unlike conventional loan facilities, this transaction involved a unique non-recourse project finance facility, highlighting its innovative nature in the corporate acquisition space.
The Eversheds Sutherland team was led by partner and head of projects – Middle East, Ashley Halewood (pictured), supported by partners Zeid Hanania and Sindhura Swaminathan, counsel Louis-Jerome Laisney, principal associate Steve Jennings, senior associates Adite Aloke and Gaurav Jain, associate Saed Obeidat and trainee Fawzi Mashal.
