Trowers & Hamlins advise on the $110 million acquisition of Qatar Shipping subsidiary
Trowers & Hamlins, the international law firm, has advised a consortium including Unicorn Investment Bank, The First Investor and Qatar First Investment Bank on the purchase of Qatar Engineering & Construction Company (Qcon) from Qatar Shipping for $110 million.
Qcon is one of Qatar’s leading industrial engineering and construction contracting companies, offering project management, engineering, procurement, construction and maintenance services for the oil & gas, petrochemical, fertilizer and power sectors.
According to Trowers & Hamlins the successful completion of this deal is a strong indication that buyers' appetite for large M&A deals has recovered in the Gulf.
Abdullah Mutawi, Corporate Partner, who led the Trowers & Hamlins team, comments: “We are delighted to have acted for this club of highly respected investors on a major inward investment deal for Qatar.”
“The deal underscores our ability to execute complex and challenging deals in Qatar and demonstrates the enormous potential of the Qatari economy in what has been a miserable year for M&A and private equity players in the region and across the world. We offer our warmest congratulations to our clients on what we are sure will prove to be a very successful investment.”
The Trowers & Hamlins team consisted of corporate partner Abdullah Mutawi and lawyers Benn Spicer and Emma Oxlade. Norton Rose, led by corporate partner Alan Bainbridge, acted for Qatar Shipping while Hassan Al Khater Law Office, Sultan Al-Abulla & Partners and Tariq Al Naimi all advised on Qatari law.