Dentons advises Mashreqbank PSC and Abu Dhabi Commercial Bank PJSC on US$100 million acquisition financing for United Energy Group

Dubai-Dentons has advised Mashreqbank PSC, as Facility Coordinator, Initial Mandated Lead Arranger and Bookrunner (Initial MLAB) and Abu Dhabi Commercial Bank PJSC (as Initial MLA), on a US$100 million acquisition finance facility provided to United Energy Group Limited (UEG) in connection with its acquisition of Apex International Energy Holdings I. The transaction completed on 14 October 2025, following the satisfaction of all conditions precedent under the sale and purchase agreement. The financing supported UEG's acquisition of a Cayman-registered entity holding multiple oil and gas concessions in Egypt's Western Desert, an area of strategic importance and long-term potential. The financing, which also incorporates reserve-based lending (RBL) features, forms part of UEG's broader growth strategy to strengthen its upstream oil and gas portfolio and expand its regional footprint.

RBL structures have traditionally been arranged out of the London market. Their use in this transaction reflects the growing shift of complex upstream financing activity toward the Middle East, reinforcing the region's role as a key hydrocarbon hub.

Dentons advised the lenders on all aspects of the facility documentation and completion process. The matter involved complex cross-border structuring and required close coordination between Dentons' Dubai and Cairo offices over a six-month period.

"We are delighted to have supported Mashreqbank and ADCB on this significant cross-border financing," said Qasim Aslam, Partner (Dubai). "The transaction underscores Dentons' strong track record in advising leading financial institutions on complex, high-profile acquisition financings in the energy and natural resources sectors across the Middle East and Africa."

The Dentons team was led by Partner Qasim Aslam, with Senior Associates Tony Nicholson and Ben Suthers, Associates Arif Doha and Andrew Gallagher (all Dubai-based), and Consultant Frédérique Léger, based in the Cairo office.

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