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"This was one of the most significant and intricate acquisitions on Oman's stock exchange so far this year. The value of the acquisition was priced on a daily moving formula, and we developed a special broker agreement to secure the final price. As this involved a controlling stake, we also had to seek the consent of the Capital Market Authority,"
says Muscat-based Corporate partner George Sandars.
Dhofar Power Company, which is listed on the Muscat Securities Market, has an exclusive concession for the generation, transmission and distribution of electricity in Southern Oman's Dhofar Province. EHC is controlled by the Government of Oman and already owns several of Oman's regional power companies.
George led the Denton Wilde Sapte team with assistance from Muscat senior associate Zul Alibhai and trainee Rachael Oxby.
Dewey & LeBouef's London office advised Dhofar Power Company and the three vendor companies.
Posted by Rima Ali Al Mashni
