DLA Piper advises Uniper on sale of marine fuel trading business in Dubai
DLA Piper advised the Uniper Group on the sale of its crude oil processing and marine fuel trading business in the United Arab Emirates. Uniper is transferring all shares in its subsidiary Uniper Energy DMCC to a consortium comprising the Swiss-based Montfort Group and the Private Office of Sheikh Ahmed Dalmook Al Maktoum. The transaction is still subject to the fulfillment of certain conditions precedent, and is expected to be completed in the coming months.
Uniper Energy DMCC produces and supplies IMO 2020 compliant low sulfur marine fuels for the Fujairah market, one of the world's three largest bunker fuel markets. The business comprises the operation of a crude oil processing facility in the Port of Fujairah and a trade office based in Dubai. The Uniper Energy Fujairah fuel oil production facility has a crude processing capacity of two mega-barrels per month and a fuel oil production capacity of five million tons per year.
The DLA Piper team was jointly led by counsel Dr Isaschar Nicolaysen and partner Dr Benjamin Parameswaran with senior associate Jan Schürmann in the core team (all Corporate/M&A, Hamburg). In addition, an international team from DLA Piper in Dubai and UK was involved.