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Petrofac Emirates to be acquired by U.S.-U.K. consortium, preserving jobs and key projects amid restructuring.
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.
The deal, pending regulatory and stakeholder approvals, aims to create a debt-free, self-sustaining entity with strong growth potential in the MENA region.
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.
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.
Petrofac Emirates será adquirida por un consorcio de EE.UU. y Reino Unido, preservando empleos y proyectos clave en medio de la reestructuración.