Al Yaqout and Al Fouzan advise on the acquisition Proximus Opal

In a landmark deal that reshapes the digital communications landscape, Proximus Opal has acquired a majority stake in Route Mobile, a prominent player in the cloud communication platform sector. The transaction, valued at $721 million, grants Proximus Opal, a subsidiary of the Belgian telecom giant Proximus Group, a 57.5% share in the Indian-based company. This strategic acquisition is set to bolster Proximus Opal’s position as a formidable force in the realms of digital communication and digital identity on a global scale.

The acquisition was expertly navigated by the legal team of YFLG, with Managing Partner Khalifah Al Yaqout, Head of Commercial Nadyn Saleh, and Senior Associate Abdulkareem Al Gharabally at the helm. Their profound expertise and diligent adherence to regulatory compliance were pivotal in obtaining approval from the Capital Markets Authority in Kuwait, a critical step given Route Mobile’s subsidiary operations within the country.

This move by Proximus Opal is more than a mere expansion; it’s a strategic alignment with the evolving demands of the digital age, positioning the company to capitalize on the burgeoning opportunities within the digital communications industry. The acquisition is a testament to Proximus Opal’s vision of enhancing its global footprint and amplifying its service offerings in a market that is constantly adapting to technological advancements.

YFLG’s role in this transaction underscores the firm’s commitment to facilitating complex legal and regulatory processes, ensuring a seamless transition and the attainment of strategic business goals. The successful completion of this deal marks a significant milestone for Proximus Opal, Route Mobile, and the digital communication sector at large, heralding a new era of innovation and connectivity.

The lawyers involved were Khalifah Al Yaqout, Managing Partner, Nadyn Saleh, Head of Commercial and Abdulkareem Al Gharabally, Senior Associate