Eversheds Sutherland and HSF advise on $2.6bn Chinese investments in Abu Dhabi oil venture
Shearman also advises as Chinese energy firms take stakes in state-owned Abu Dhabi oil company
February 24, 2017 at 05:49 AM
2 minute read
Eversheds Sutherland and Herbert Smith Freehills (HSF) have advised two Chinese energy companies on their combined $2.6bn (£2.1bn) investment in a joint venture with state-owned Abu Dhabi National Oil Company (ADNOC).
In a deal announced on 19 February, state-owned China National Petroleum Corp (CNPC) – one of the three top oil producers in China – agreed to pay $1.76bn (£1.4bn) for an 8% stake in the $22bn (£17.5bn) Abu Dhabi Company for Onshore Petroleum Operations concession.
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