UAE investors to take stake in Abu Dhabi chemicals projects

KJMC Corporate Advisors (India)

15/12/2021 14:51

DUBAI, Dec 15 (Reuters) - Eight UAE-based investors have
signed agreements with the Abu Dhabi Chemicals Derivatives Co
(TA’ZIZ)  to take a stake of up to 20% in chemicals projects
worth 15 billion dirhams ($4 billion) in an industrial chemicals
zone in Abu Dhabi.
    In the first domestic public-private partnership in Abu
Dhabi's downstream and petrochemicals sector, the investors will
be committing funds alongside ADNOC, ADQ and other global
partners in the TA'ZIZ Industrial Chemicals Zone, ADNOC said in
a statement.
    The investors are Al Dhafra Co-operative Society,  Al Nasser
Holdings LLC, Alpha Dhabi Partners Holding LLC, Arab Development
Establishment, Buhairan Ltd Company LLC,  Capital Investment
LLC, Mazrui International and Mazrui Energy Services, and 
Riverside Investments LLC.
    The exclusive financial adviser to ADNOC and ADQ on the deal
was deNovo Corporate Advisors, and Shearman & Sterling acted as
legal adviser to ADNOC and ADQ.
    ($1 = 3.6726 UAE dirham)

 (Reporting by Saeed Azhar
Editing by Mark Potter)
 ((Saeed.Azhar@thomsonreuters.com; +971 44536787; Reuters
Messaging: saeed.azhar.reuters.com@reuters.net))