Eversheds Sutherland and Herbert Smith Freehills have advised two Chinese energy companies on their combined $2.6 billion investment in a joint venture with state-owned Abu Dhabi National Oil Co.
In a deal announced on Feb. 19, state-owned China National Petroleum Corp., or CNPC—one of the three top oil producers in China—agreed to pay $1.76 billion for an 8 percent stake in the $22 billion Abu Dhabi Co. for Onshore Petroleum Operations concession.
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