Shearman And Sterling

News September 23, 2020

ADNOC’s $1 Billion Institutional Placement For ADNOC Distribution

Shearman & Sterling represented Abu Dhabi National Oil Company (ADNOC) on its completed placement to institutional investors of 10% of the total share capital of ADNOC Distribution, valued at $1 billion. The transaction constitutes the largest block placement of shares in a publicly-listed company in the Gulf region to date. ADNOC will retain an 80% strategic stake in ADNOC Distribution, a leading fuel distributor and convenience store operator in the United Arab Emirates.

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