19 September 2011
Clifford Chance advises Hilong Group on acquisition in the Middle East
Clifford Chance is advising China-based Hilong Group in connection with its proposed acquisition of Al Mansoori Hilong Petroleum Pipes (AMHPP), a limited liability company incorporated in Abu Dhabi, from Al Mansoori Specialised Engineering. A conditional sale and purchase agreement was entered into on 14 September 2011 and is expected to complete by the middle of November 2011.
The Hilong Group owns businesses engaged in the oil and natural gas industries in China and elsewhere in the world. The acquisition of AMHPP, which specialises in the manufacture of drill pipes and provision of coating services in Abu Dhabi, should enable the Hilong Group to secure direct access to markets for these products and services in the Middle East.
The Clifford Chance team was led by M&A Partner Mohammed Al-Shukairy, with assistance from Senior Associates Nick Boyd in Dubai and Michael Yu in Hong Kong.
Mohammed, who recently relocated to Dubai from the London office of Clifford Chance, commented that "Clifford Chance is delighted to be advising long standing client Hilong in connection with this strategic investment in the Middle East. This acquisition provides further evidence of the increasing levels of M&A activity between China and the Middle East and we look forward to continuing to play a role on such transactions through our integrated offices in these regions."