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flag Petrofac Emirates to be acquired by U.S.-U.K. consortium, preserving jobs and key projects amid restructuring.

flag Petrofac Emirates, the UAE-based engineering and construction arm of Petrofac Group, has agreed to be acquired by a consortium led by Mason Capital Management LLC and Pearlstone Alternative (UK) LLP. flag The deal, pending regulatory and stakeholder approvals, aims to create a debt-free, self-sustaining entity with strong growth potential in the MENA region. flag It preserves core E&C operations in the UAE, Chennai, and Mumbai, ensures continuity on ongoing projects—including major Adnoc contracts—and supports Petrofac’s broader restructuring efforts. flag The transaction is part of a larger recovery plan following financial challenges, including the sale of its Asset Solutions business to CB&I, which is also expected to save thousands of jobs.

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