Middle East and North Africa
Investment into the Middle East and North Africa has seen a significant increase in recent years and the region has become a dynamic hub for investment. Alongside energy production, the MENA region is a major player in infrastructure, construction, technology and transport, with many new projects currently in planning stage.
With our wealth of experience across all jurisdictions in the Middle East and North Africa, we are able to advise both local and international clients doing business in the region. Our longevity in the market allows us to respond effectively and efficiently to all our client’s needs.
Our work is varied and ranges from complex multi-jurisdictional disputes, financing to corporate M&A transactions. Of particular note is our infrastructure, energy and natural resources experience with its strategic focus on major infrastructure projects.
We advised Infinity Energy S.A.E. (Infinity), one of Egypt’s leading renewable energy developers, on the establishment of a joint venture with Masdar (also known as the Abu Dhabi Future Energy Company). Masdar, a subsidiary of the Abu Dhabi sovereign wealth fund, will invest in Infinity’s portfolio of renewable assets and partner with Infinity in upcoming renewable energy projects in Egypt and Africa.
We also advised Infinity on the parallel investment by the European Bank for Reconstruction and Development of up to US$60million in Infinity to finance the development, construction and operation of renewable energy projects and associated ancillary business including electricity distribution and electric vehicle charging stations in Egypt.
We advised the Central Bank of Egypt on its US$3.8 billion repurchase transaction with a consortium of international banks.
The consortium’s financing was provided against Arab Republic of Egypt dollar-denominated sovereign bonds, which are listed on the Irish Stock Exchange.
We are advising United Energy Group Limited (UEG) in relation to its acquisition of Kuwait Energy plc for cash consideration of up to approximately US$650 million.
UEG is one of the largest listed independent upstream oil and gas corporations in Hong Kong, with business presence in South Asia. UEG and its subsidiaries are principally engaged in the investment and operation of upstream oil, natural gas and other energy related businesses.
Kuwait Energy plc is principally an upstream oil and gas company with exploration, appraisal, development and production activities in a number of countries including Iraq, Egypt, Yemen and Oman.
We advised Qatar National Bank S.A.Q in their capacity as the Facility Agent in relation to sale of Arab Bank shares owned by Oger Middle East (Holdings) SAL (“OME”). OME is a subsidiary of Saudi Oger Limited – a company owned by the family of former Lebanese Prime Minister, Mr Saad Al-Hariri. The Arab Bank shares were purchased by a consortium of Arab and Jordanian investors led by the chairman of Arab Bank, Mr Sabih T. Masri for US$1.12 billion.
We are advising Francisco Partners, part of a consortium, on a recommended offer for Dmatek Limited, a provider of remote people monitoring technologies, for £52.9 million (US$77.6 million) in cash. Dmatek is listed on the London Stock Exchange and is based in Tel Aviv, Israel.
We are advising Banco Santander, S.A., a significant shareholder in Alawwal bank, in connection with the proposed merger of Alawwal bank with The Saudi British Bank (the “Merger”). The Merger will create Saudi Arabia’s third largest bank with a stock market capitalisation of approximately SAR 64.4 billion (US$17.2 billion).
We advised the Kuwait Foreign Petroleum Exploration Company K.S.C., a wholly owned subsidiary of the Kuwait Petroleum Corporation, in relation to its new US$1,100,000,000 credit facility. The facility is for general corporate purposes and will support KUFPEC’s international expansion plans.
First Abu Dhabi Bank PJSC, Sumitomo Mitsui Banking Corporation DIFC Branch – Dubai, and Societe Generale acted as bookrunners. First Abu Dhabi Bank PJSC, Sumitomo Mitsui Banking Corporation DIFC Branch – Dubai, Societe Generale, Mizuho Bank, Ltd., Scotiabank Europe plc and First Abu Dhabi Bank PJSC, Kuwait Branch acted as mandated lead arrangers. First Abu Dhabi Bank PJSC will act as agent.