DLA Piper: Uniper sells marine fuel trading business in Dubai
DLA Piper provided legal advice to Uniper Group regarding the sale of its crude oil processing and marine fuel trading business in the United Arab Emirates. A consortium composed of Montfort Group and the Private Office of Sheikh Ahmed Dalmook Al Maktoum is set to acquire all the shares of Uniper Energy DMCC, a subsidiary of Uniper. However, the sale is still subject to certain conditions precedent and is expected to conclude in the next few months.
Uniper Energy DMCC is responsible for the production and supply of IMO 2020 compliant low sulfur marine fuels for the Fujairah market, one of the world’s largest bunker fuel markets. The business includes the operation of a crude oil processing facility in the Port of Fujairah and a trade office located in Dubai. The Uniper Energy Fujairah fuel oil production facility has a fuel oil production capacity of five million tons per year and a crude processing capacity of two mega-barrels per month.
The DLA Piper team was jointly led by counsel Isaschar Nicolaysen (pictured right) and partner Benjamin Parameswaran (pictured left) with senior associate Jan Schürmann in the core team (all corporate/m&a, Hamburg). In addition, an international team from DLA Piper in Dubai and UK was involved.
