Industrialization and Energy Services Company (“TAQA”) and the shareholders of Al Mansoori Petroleum Services LLC (“AMPS”) have announced today that they have entered into a definitive agreement for TAQA to acquire 100% of AMPS, expanding TAQA’s Well Services business from Saudi Arabia to the wider Middle East and North Africa (“MENA”) region.
The transaction is expected to close in the fourth quarter of 2022, subject to obtaining all relevant approvals and satisfying other conditions to closing.
TAQA is a Saudi Arabian industrialization and energy services company supplying specialized equipment and providing oilfield services for the exploration and development of oil & gas resources in the Kingdom of Saudi Arabia and the wider MENA region.
AMPS is a provider of oilfield services in the Middle East based in Abu Dhabi. AMPS adds complementary products and services to TAQA’s portfolio, including Early Production Facilities, Well Testing, DST, Slickline, Marine Stimulation Vessels, Multi-Purpose Service Vessels, Inspection Services, H2S Monitoring and Logging & Perforation.
TAQA was advised by HSBC Saudi Arabia and White & Case.
The White & Case team was led by partner Marcus Booth (capital markets, m&a, pictured left) and included partner Will Smith (capital markets, m&a), local partner Mohamed AlHasan (m&a), counsel Tamer Nagy (antitrust, competition) and associates Adnan Bekdur (private equity, m&a), Chris Thorn (private equity, m&a), Nour Ghaleb (Energy), Simon O’Connell–Schizas (private equity, capital markets), Saskia Moss (private equity, m&a) and Charlotte Deans (private equity).
AMPS was advised by Goldman Sachs International and Clyde & Co.
Clyde & Co cross-practice team was led by partner Stephen McKenna (corporate, pictured right) and senior associate Matthew Gearing (corporate) who were supported by associate Julia Wolks (corporate). The corporate team were further supported by partners Richard Bell (commercial disputes), Mark Devaney (IP), Rebecca Ford (employment), Adil Hussain (finance), Sara Khoja (employment), Alexis Waller (real estate), Dino Wilkinson (commercial), legal directors Sam Ellaby (employment), Nicole Giblin (IP), senior associates Jennifer Eakins (commercial disputes), Amy Guest (employment), Nerissa Loong (construction), Masha Ooijevaar (commercial), Ken Wong (commercial) and associates Khaled AlMulla (commercial disputes) and Chaya Gupta (finance).