DLA Piper has represented Brisbane-based Bothar Boring & Tunnelling Pty Limited in a major investment into Australia’s liquefied natural gas (LNG) industry.
The deal, which was finalised last week, was for a 49% shareholding in Bothar by Petroserv Group, which is based in Qatar. Bothar will be rebranded as Petroserv International as part of the 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.
DLA Piper’s team was led by Partner, Catherine Merity and Senior Associate, Michelle Monteleone in Sydney; and Senior Legal Consultants, Brenda Hill and Richard Hughes in Doha.