White & Case and The Law Office of Megren M. Al-Shaalan are advising Saudi Aramco on a US$15.5 billion infrastructure investment deal with a consortium led by subsidiaries of BlackRock Real Assets and Hassana Investments Co.

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Global law firm White & Case LLP and law firm Megren M. Al-Shaalan have advised Saudi Arabian Oil Company (Saudi Aramco) on a US$15.5 billion long-term infrastructure transaction with a consortium of investors led by affiliates of BlackRock Real is advising Assets (BlackRock) and Hassana Investments Co. (Hassana), the investment management arm of the General Organization for Social Insurance (GOSI) in Saudi Arabia, to optimize Saudi Aramco’s gas pipeline network through a lease and leaseback agreement .

“White & Case advised Saudi Aramco on this landmark transaction with BlackRock and Hassana,” said Ivan Paskal, Partner at White & Case. “This is the second major infrastructure transaction of its kind in the past two years and demonstrates the strength of our decades-long collaboration with Saudi Aramco.”

Carina Radford, Partner at White & Case, said: “This deal once again demonstrates Saudi Aramco’s status as a leader in innovative energy investment structures and underscores the role that White & Case plays as a world-class advisor in this space.”

The consortium consists of leading institutional investors including Keppel Infrastructure Trust, Silk Road Fund and China Merchants Capital.

“White & Case continues to support long-time client Saudi Aramco on landmark transactions like this one,” said White & Case partner Clark Wohlferd.

White & Case partner Michael Watson said: “This is another significant step in Saudi Aramco’s energy transition strategy.”

White & Case previously advised Saudi Aramco on its SAR96 billion (US$25.6 billion) IPO, the world’s largest IPO to date, and on Saudi Aramco’s sale of a stake in a subsidiary with cash flows from operations $12.4 billion advised on Saudi Aramco’s crude oil pipeline network to a consortium led by EIG Global Energy Partners.

The White & Case team advising on the transaction included partners Ivan Paskal (New York), Carina Radford, Michael Watson (both London), Clark Wohlferd (New York), Marcus Booth (Dubai & London), Sami Al- Louzi (Dubai), Gary Kashar, Robert Milne (both New York), Hansel Pham, Richard Burke (both Washington, DC), Strati Sakellariou-Witt (Brussels) and Andrew Kreisberg (Los Angeles), local partner Sonia Abdul-Rahman ( Dubai) and Associates Aleksandra Stadnik (Abu Dhabi), Nour Ghaleb (Dubai), Mark Andrews, Tom Wilkinson, Miles Tonkin (all London), Giuseppe Tantulli (Brussels) and Adnan Bekdur (Dubai). The team at Riyadh law firm Megren M. Al-Shaalan was led by managing partner Megren Al-Shaalan and included associate Nawaaf Alawaad.

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