Al Mazrui backs Petrofac HoldCo as strategic investor

Dubai-based holding firm Al Mazrui International sealed off its investment in Petrofac HoldCo, the holding company of Petrofac Emirates, Petrofac said in a statement. The size of the investment wasn’t disclosed, but it makes Al Mazrui a strategic shareholder alongside the engineering group’s existing investors, US investment firm Mason Capital Management, and London-based hedge fund manager Pearlstone Alternative.

IN CONTEXT- UK-based energy services firm Petrofac sold its UAE unit to a consortium led by Mason Capital Management and Pearlstone Alternative in June. The UAE business now operates as a standalone company under new ownership with a clean balance sheet.