PwC advised ADNOC on its market entry deal in Egypt
PwC advised ADNOC on its market entry deal in Egypt
Abu Dhabi National Oil Company (ADNOC) has completed its acquisition of a 50% stake in TotalEnergies in Egypt, in a move that sees the Emirati oil giant enter the Egyptian market. PwC provided buy-side deal advisory.
The deal reinforces the close alliance between France-headquartered TotalEnergies and ADNOC, which have had a strategic partnership for nearly 40 years across markets.
Through the deal valued at a consideration of around $200 million, the two companies are now expanding their collaboration into Egypt.
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