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Denton Wilde Sapte advises on second Mena Infrastructure investment

Denton Wilde Sapte is acting as legal adviser for Mena Infrastructure Fund’s second investment – a 32.8 per cent shareholding in Oman’s United Power Company.

Denton Wilde Sapte is acting as legal adviser for Mena Infrastructure Fund’s second investment – a 32.8 per cent shareholding in Oman’s United Power Company.

UPC owns a 270 megawatt power station in Manah and is listed on the Muscat Securities Market. 

The 32.8 per cent holding in UPC was opened to a competitive bid process when GDF Suez was ordered to divest its founders’ shareholding by the Omani Electricity Regulator.

"We’re pleased to have acted again on another successful regional acquisition for Mena Infrastructure Fund. Our Dubai and Muscat offices combined to provide a full international and local law service, which, together with our leading expertise in the power sector, delivered the right result in a strongly contested bid process," says Dubai corporate partner Neil Nicholson.

The USD500m private equity fund is sponsored by HSBC, Waha Capital and Dubai International Capital and invests in projects and companies in their early stages of development across the Middle East and North Africa.

Denton Wilde Sapte’s Middle East corporate team advised Mena Infrastructure Fund on its first investment in April 2008, which saw it acquire an interest in two container terminals in Egypt.

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