Bahrain regulatory execution in a major regional energy divestment
ASAR has advised Engie on the Bahrain aspects of its regional divestment from the Middle East energy sector. The transaction involved the sale by Engie’s UAE-based subsidiary to ACWA Power of its direct and indirect interests in several power generation and operations and maintenance companies across the region, including Engie’s stakes in four Bahraini companies. The transaction is among the largest regional divestments in the energy sector.
From a Bahrain perspective, the transaction required navigation of the bespoke regulatory framework applicable to power projects, together with the coordination of multiple shareholder and regulatory approvals, including competition clearances and lender consents.
The ASAR Barain team advising on the transaction included David Walker (Partner), Sherif Saad Eldin (Senior Associate), Rahul Sud (Senior Associate), Ahmed Al-Saeed (Associate) and Maram Sharaf (Associate). The wider multi-jurisdictional work was overseen by A&O Shearman, acting as lead counsel across all jurisdictions.
For more information on ASAR’s Corporate & Commercial capabilities in Bahrain, please contact our team at asarbh@asarlegal.com.
