Dentons with Vale on US$600 million Oman joint venture
Dentons advised Vale International (Vale) on a joint venture with AP Oryx Holdings, an SPV of NYSE-listed Apollo Asset Management (Apollo), in Vale Oman Distribution Center (VODC). VODC operates an integrated iron ore blending and distribution center in Sohar, Oman with a nominal capacity of 40mtpy.
About the joint venture
Apollo will invest US$600 million to acquire a 50% stake in VODC and Vale will retain the remaining 50% ownership. Subject to regulatory approvals, the transaction is anticipated to close later in 2024.
Dentons’ team
The Dentons team was led by partner Jamie Gibson (pictured). Gibson was supported by global team members comprising partners Yasser Taqi (Muscat), Adam Pierce (London), Will Turner (London), Jonathan Cantor (London), Joseph Altendorff (London), John Harrington (Washington, DC) and Jeffrey Johnstone (Cayman Islands), senior associates Michael Kneebone (Muscat) and Wei Wu (London), associates Elen Roberts (Abu Dhabi) and Esme Crofton-Ford (London), and consultant Mahnoor Latif (Riyadh).