Chadbourne represents ACWA Power International in deal to buy controlling interest in Barka Power and Desalination Project

The transaction is subject to regulatory approvals and is expected to close during the first half of 2010.

The deal marks the acquisition of the AES and IDB stake in AES Barka S.A.O.G., a company listed on the Muscat Securities Market that owns and operates the Barka Power & Desalination Project (Phase I) in the Sultanate of Oman. The acquisition will be the first by ACWA Power International in the region and follows ACWA's success in winning I(W)PP projects in the Kingdom of Saudi Arabia.

The Chadbourne team was led by Dubai projects partner Sohail Barkatali and included London partners Claude Serfilippi and Agnieszka Klich.

"The acquisition of Barka Phase I demonstrates ACWA's commitment to the region and highlights its position as a key regional player in the power and water sector in the GCC," said Mr. Barkatali.

"Chadbourne is delighted to have worked with ACWA and its in-house team to close this transaction. These are challenging times but this deal demonstrates that there is enough investor appetite for the right type of M&A transaction," Mr. Barkatali added. "Chadbourne has the expertise across its offices to advise on major acquisitions; it has strength in depth in both its projects and corporate practices which means that it can deliver on deals such as this."

The Barka Power and Desalination Project (Phase I) provides power and desalinated water to Oman Power and Water Procurement Company S.A.O.C. under a 15-year power and water purchase agreement that expires in 2018.