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.

The Team