Abu Dhabi Islamic Bank (“ADIB”) signed a Memorandum of Understanding (“MoU”) with Abu Dhabi Global Market (“ADGM”), the international financial centre of the UAE capital, collaborating to support the growth needs of the financial community of Abu Dhabi. The association will further reinforce cooperation in various fintech initiatives, drive awareness, support in business development while […]
Banking & Finance
Deal & transactions
United Arab Emirates
Al Khayyat Investments acquires Growthcap’s distribution business
Regional conglomerate Al Khayyat Investments (“AKI”) has completed the acquisition of Growthcap Investments’s distribution business in the UAE in respect of over 30 brands including Tippys, Natures Kitchen, Enviro Guard, Resona Organics and Huy Fong.&
Saudi-based Retail enablement company Zid has raised USD50 million in Series B funding round (~188 million SAR). The round was led by IMPACT46 with participation from investors including Aramco venture capital arm (Waed Ventures) and Endeavour
Banking & Finance
Deal & transactions
Other
Trowers & Hamlins advises on the establishment of Venture Studio
Trowers & Hamlins has successfully advised on the establishment of the MENA region’s first FinTech Venture Studio (the “Venture Studio”). The Venture Studio is a joint venture project between the firm’s client Al
Banking & Finance
Capital Markets
Saudi Arabia
Saudi Real Estate Refinance Co. issues SAR3 B guaranteed sukuk
Saudi Real Estate Refinance Company (“SRC”), the wholly-owned Public Investment Fund of the Kingdom of Saudi Arabia, has increased its programme limit from SAR 10 billion to SAR 20 billion and issuance of SAR 3 billion (USD798 million)
Banking & Finance
United Arab Emirates
National Bonds Introduces its Golden Pension Scheme for UAE residents
National Bonds Corporation, the UAE based Shari’a-compliant savings and investment company owned by the Investment Corporation of Dubai, has launched its Golden Pension Scheme in the UAE in a move to ramp up its
Banking & Finance
Energy & Trading
United Arab Emirates
Taqa secures refinancing of USD3.5 billion revolving credit facility
Abu Dhabi National Energy Company (“TAQA”) has secured refinancing its USD3.5 billion revolving credit facility. Secured via a syndicate comprising 20 banks, the new 5-year USD SOFR-based facility, which will be utilised for general corporate
Appointments
Banking & Finance
United Arab Emirates
Gabriella Savastano appointed to CMS’ financial services practice
International law firm CMS bolsters its financial services offering in the UAE with the appointment of Gabriella Savastano (pictured) as legal director in its Dubai office. Savastano specialises in financial services regulation and
BMCE Capital Investment, part of the BMCE Capital Group, has launched Fonds Capital Venture, its first private equity fund to support growth in Morocco’s start-up ecosystem. The newly formed MAD 50 million (USD 4.5
Alieldean Weshahi & Partners acted as legal advisor for Contact Financial Holding, a non-bank financial service provider in Egypt, on the closing of an EGP 2 billion (approx. USD 102.5) sukuk issuance, following Financial Regulatory Authority (“FRA”)
