Herbert Smith Freehills Kramer Advised MB Group On Sale Of Strategic Stake In MB Petroleum Services To ADNOC Drilling
Herbert Smith Freehills Kramer advised MB Group on sale of strategic stake in MB Petroleum Services to ADNOC Drilling
The Leading global law firm Herbert Smith Freehills Kramer has advised MB Group on the sale of 80% of its oilfield services subsidiary, MB Petroleum Services MENA (MBPS), to ADNOC Drilling, with MB LLC retaining a 20% stake in MBPS.
This strategic sale represents a pivotal moment in MB Group's journey as a diversified private investment house. It follows over four decades of growth for MBPS, which has been instrumental in shaping the oilfield services industry across Oman and the wider MENA region.
Chris Walters (Head of Middle East Corporate) commented,
"This sale represents an important step in MB Group's growth journey, and we are delighted to have been able to help them along the way. This transaction underscores the strength of our cross-practice capabilities in the energy sector and our ability to successfully advise clients on multi-jurisdictional M&A transactions."
The Herbert Smith Freehills Kramer team was led by Chris Walters (Head of Middle East Corporate) and included Anna Szyndler (Corporate Partner), Andrew El-Khoury (Senior Associate), Nicola Halliday (Senior Associate), Alex Hamilton (Associate), and Kim Shepherd (Associate). The team also included Josh Lom (Tax Partner), James Tryfonos (Senior Associate, Tax), and Kyriakos Fountoukakos (Competition, Regulation and Trade Partner) and Camille Puech-Baron (Competition, Regulation and Trade Partner).
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