CHSH advised OMV on Austrian law and Cleary Gottlieb Steen & Hamilton advised on Abu Dhabi law.
The transaction, which is valued at approximately USD 2.5 billion and is expected to close in the third quarter of 2019, is subject to customary closing conditions and regulatory approvals.
ADNOC Refining is currently a wholly-owned subsidiary of ADNOC, Abu Dhabi’s national oil company. ENI, an Italian oil and gas company, is expected to acquire 20% of ADNOC Refining in parallel with OMV.
OMV, which is partly owned by the Abu Dhabi government’s Mubadala Investment Co., is an integrated oil and gas company headquartered in Vienna, Austria.
According to Cleary Gottlieb, ADNOC Refining operates “the world’s fourth largest single site refinery complex, Ruwais East and North, located in the Western Region of the Emirate of Abu Dhabi, as well as the Abu Dhabi Refinery.”
The CHSH team was led by Partner Clemens Hasenauer and included Partners Johannes Prinz, Lorenz Pracht, and Harald Stingl, and Associates Alexander Reich-Rohrwig and Hanna Shin.
The Cleary Gottlieb team was led by Partner Gamal Abouali and included Counsel Chris Macbeth, Associates Lynn Ammar, Adam Jamal, Reem Gasir, and Hamaad Mustafa, and International Lawyer Jad Nasr (all are based in Abu Dhabi). The team in Paris consisted of Partner Andrew Berstain, Counsel Emmanuel Ronco, and Associates Christina Samaras and Jerome Hartemann. New York-based Senior Attorney James Corsiglia was also involved in the deal.