White & Case and The Law Office of Megren M. Al-Shaalan advise Saudi Aramco on US$15.5 billion infrastructure investment deal with consortium led by affiliates of BlackRock Real Assets and Hassana Investments Co.
2 min read
Global law firm White & Case LLP and the Law Office of Megren M. Al-Shaalan have advised the Saudi Arabian Oil Company (Saudi Aramco) on a long term, US$15.5 billion infrastructure transaction with a consortium of investors led by affiliates of BlackRock Real Assets (BlackRock) and Hassana Investments Co. (Hassana), the investment management arm of the General Organisation for Social Insurance (GOSI) in Saudi Arabia, to optimize Saudi Aramco's gas pipeline network through a lease-and-lease-back arrangement.
"White & Case has advised Saudi Aramco on this landmark transaction with BlackRock and Hassana," said White & Case partner Ivan Paskal. "This is the second major infrastructure transaction of this nature in the last two years and showcases the strength of our multi-decade collaboration with Saudi Aramco."
White & Case partner Carina Radford said: "This deal once again demonstrates Saudi Aramco's status as a market leader in innovative energy investment structures, and highlights the role played by White & Case as a top tier adviser in this space."
The consortium comprises leading institutional investors including, among others, Keppel Infrastructure Trust, Silk Road Fund and China Merchants Capital.
"White & Case continues to support long-standing client Saudi Aramco on groundbreaking transactions like this one," said White & Case partner Clark Wohlferd.
White & Case partner Michael Watson said: "This is another significant step in Saudi Aramco's energy transition strategy."
White & Case previously advised Saudi Aramco on its SAR 96 billion (US$25.6 billion) initial public offering, the world's largest IPO to date, and on the US$12.4 billion sale by Saudi Aramco of a stake in a subsidiary with cash flows derived from operation of Saudi Aramco's crude oil pipeline network to a consortium led by EIG Global Energy Partners.
The White & Case team which advised on the transaction included partners Ivan Paskal (New York), Carina Radford, Michael Watson (both London), Clark Wohlferd (New York), Marcus Booth (Dubai & London), Sami Al-Louzi (Dubai), Gary Kashar, Robert Milne (both New York), Hansel Pham, Richard Burke (both Washington, DC), Strati Sakellariou-Witt (Brussels) and Andrew Kreisberg (Los Angeles), local partner Sonia Abdul-Rahman (Dubai) and associates Aleksandra Stadnik (Abu Dhabi), Nour Ghaleb (Dubai), Mark Andrews, Tom Wilkinson, Miles Tonkin (all London), Giuseppe Tantulli (Brussels) and Adnan Bekdur (Dubai). The Law Office of Megren M. Al-Shaalan team in Riyadh was led by managing partner Megren Al-Shaalan and included associate Nawaaf Alawaad.
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