Lawyer Monthly Magazine - April 2019 Edition

105 Transactions www. lawyer-monthly .com APR 2019 This announcement appears as a matter of record only ENI Acquires 20% of ADNOC Refining UAE counsel for ENI: International counsel for ENI: Legal counsel for ADNOC Refining: ENI Acquires 20% of ADNOC Refining Eni and ADNOC signed a Share Purchase Agreement to enable Eni to acquire from ADNOC a 20% equity interest in ADNOC Refining. The signing of the agreement was witnessed by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Giuseppe Conte, the Italian Prime Minister. The agreements were signed by His Excellency Dr Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, and Claudio Descalzi, Eni CEO. ADNOC also announced that it sold to OMV a 15% equity interest in ADNOC Refining, with ADNOC retaining the remaining 65%. ADNOC, Eni and OMV also agreed to establish a Trading Joint Venture with the same shareholding of ADNOC Refining. The agreed terms for the 20% equity interest acquired by Eni include a cash price of approximately $3.3 billion after deduction of the net debt and subject to closing adjustments, which corresponds to an enterprise value of approximately $3.9 billion (Eni share). The acquisition will be completed subject to satisfaction of a number of conditions precedent, including clearance from UAE and other regulatory authorities. This is one of the largest ever refinery transactions and reflects the scale, quality, and growth potential of ADNOC Refining’s assets, coupled with an advantageous location from which to supply markets in Africa, Asia and Europe. This announcement appears as a matter of record only Sonda Acquires M2M Solutions Legal adviser to Sonda: Legal adviser to M2M Solutions: Sonda Acquires M2M Solutions M2M has a wide portfolio of technological services and solutions in transport and urban mobility, which includes fleet management solutions based on cloud (software as a service), trip planning and management, passenger access control, telemetry, analytics & business intelligence and diverse applications for operators, users and authorities. M2M is a Brazilian company with a national presence and a diversified customer base. It stands out its proven experience in the development of important integrated and intelligent transport projects in Brazil and abroad (Mexico, Portugal and Guatemala). Among the main projects that M2M has developed is the implementation of fleet management solutions for the BRT (Bus Rapid Transit) of Rio de Janeiro, Belem and Fortaleza. The latter was the first Brazilian municipality to have 100% of its bus fleet monitored. This acquisition is part of the strategic plan that SONDA has defined for the 2019-2021, in which four key industries will be strengthened at a regional level: Transport, Retail, Financial Services and Government. Regarding the strategic plan, Raul Vejar, SONDA’s CEO, explained the company’s emphasis on improving and transforming its customers’ business: “We have a relevant track-record of successful transport solutions that have helped to transform the way in which Latin Americans move daily, improving their quality of life. We are confident that M2M solutions will help us to strengthen what we have built over the years”. Chenut Oliveira Santiago Advogados, an international law firm, advised Sonda in the acquisition of M2M (contracts, due diligence, negotiations, closing).