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Qatar company invests in Aus LNG
Qatar-based Petroserv Group has subscribed for a a 49 per cent shareholding in Brisbane-based Bothar Boring & Tunnelling.
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Firm: DLA Piper (Bothar Boring & Tunnelling Pty Limited); Allen & Overy (Petroserv Group)
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Deal: The subscription for a 49 per cent shareholding in Brisbane-based Bothar Boring & Tunnelling by Qatar-based Petroserv Group
Area: Corporate/M&A
Value: Confidential
Key players: DLA Piper's team was led by partner Catherine Merity (pictured) and senior associate Michelle Monteleone in Sydney, working alongside senior legal consultants Brenda Hill and Richard Hughes in Doha
Deal significance: Bothar will be rebranded as Petroserv International as part of this deal.
Qatar is the world's largest LNG exporter and this deal represents the country's first major investment into Australia's growing LNG sector.
It is expected that the initial equity injection by Petroserv Group, which is owned by former Qatar finance minister Sheikh Mohamed bin Ahmed bin Jassim Al Thani, will be followed by further significant funding from the company.
