Baker McKenzie with GCC on mandatory cash tender offer
Baker McKenzie advised Gulf Cement Company (GCC) on the completion of a conditional mandatory cash tender offer launched by TC Mena.
The offer
Pursuant to the operation, TC Mena acquires approximately 63% of GCC’s issued share capital. As GCC’s largest shareholder, TC Mena initiated the offer to acquire up to 100% of GCC’s issued and paid-up ordinary shares, subject to a minimum acceptance threshold of 50% plus one share.
The parties
A subsidiary of Buzzi Unicem, TC Mena is a public joint stock company listed on the Italian stock exchange, 10% owned by ADGM incorporated company DHL.
Headquartered in the Khor Khuir, cement production specialist GCC is a publicly listed company on the Abu Dhabi Securities Exchange (ADX).
The Baker McKenzie team
In connection with the operation, Baker McKenzie represented GCC on all legal aspects of the UAE takeover regime. UAE-based corporate partner Abeer Jarrar (pictured) led the firm’s team on the matter, working alongside senior associates Tala Shomar and Luke Hackett.
Moreover, Emirates NBD acted as sole financial advisor, lead manager and receiving agent, while IN’P Ibrahim N Partners represented TC Mena on legal matters.
