Global law firm Ashurst has advised Alpha Dhabi Energy Holding LLC, a subsidiary of Alpha Dhabi Holding PJSC, on the indirect sale of 51% of the issued share capital of UAE-based NTS Middle East FZCO to Enersol, a joint venture between ADNOC Drilling Company PJSC and Alpha Dhabi Holding PJSC. Ashurst previously advised Alpha Dhabi Holding PJSC when its subsidiary acquired a 51% equity stake in NTS Middle East FZCO from General Holding Corporation PJSC in October 2023.
Enersol's indirect acquisition of 51% of the issued share capital of NTS Middle East FZCO is the second acquisition announced by Enersol in the oil and gas sector. NTS Middle East FZCO is a leading global provider of advanced manufacturing, complex tool repair and rental solutions for the oil and gas sector, with operations in the UAE, KSA, Norway, Canada, USA, and Singapore. Enersol's acquisition aligns with its objective to become an oil service sector technology focused investment platform with the underlying objective of providing greater access to GCC markets and improving operational efficiencies.
The Ashurst team was led by partners Simon Rahimzada, with the wider team including partners Vasi Papadopoulos and Neil Cuninghame and senior associates Zaid AL-Rizzo and Adelle Elhosni.
