Al Tamimi & Company has released its first-ever Environmental, Social, and Governance (ESG) Report. The report details the firm’s sustainability initiatives that were carried out during 2023. The report highlights the outcomes of the company’s efforts, which include reducing carbon emissions, promoting diversity and inclusion programs, offering pro bono legal services, and supporting local communities. […]
Freshfields Bruckhaus Deringer (‘Freshfields’) has unveiled the promotion of 40 new counsel, effective from 1 May 2024. Spanning various regions and practice groups, the newly appointed counsels embody Freshfields’ dedication to fostering a diverse and skilled workforce. Their
Global law firm, Baker McKenzie has advised Allianz Group, a renowned global insurer and asset manager, on the divestment of its 51% shareholding in Allianz Saudi Fransi Cooperative Insurance Co (Allianz Saudi Fransi) to Abu Dhabi
Capital Markets
Healthcare, Pharma & Life Sciences
Saudi Arabia
Linklaters Guides Consortium in Aster DM Healthcare Deal
International law firm Linklaters has provided legal counsel in the landmark US$813 million acquisition financing of Aster DM Healthcare’s GCC business. The transaction saw a consortium of regional financiers providing acquisition financing facilities to
Banking & Finance
Capital Markets
Saudi Arabia
TMT
PIF and STC Group are forming the largest telecom tower
The Public Investment Fund (PIF) and Saudi Telecommunications Company (STC Group) have signed definitive agreements to form the region’s largest telecom tower company. PIF will acquire a 51% stake in Telecommunication Towers Company Limited (TAWAL)
Capital Markets
Insurance
Saudi Arabia
United Arab Emirates
ADNIC Finalizes Purchase of 51% Stake in Allianz Saudi Arabia
Abu Dhabi National Insurance Company (ADNIC) has successfully acquired a 51 percent stake in Allianz Saudi Fransi Cooperative Insurance Company in Saudi Arabia. This strategic move positions ADNIC as a prominent Tier-1 insurer in Saudi
Corporate
Deal & transactions
Egypt
Opinions
Saudi Arabia
United Arab Emirates
PwC Report: Diversification Fuels 2024 M&A Boom in Middle East
The winds of change are blowing across the business landscape of the Middle East. With a focus on economic diversification and a growing embrace of clean energy and technology, the region is poised for a
International law firm, White & Case has enhanced its Global Mergers & Acquisitions (M&A) Practice by welcoming partner Abdallah Maher (pictured) to its Riyadh office. “We see high demand from clients in
Regional law firm, ASAR has secured a significant triumph for its client in a pivotal decision by the Kuwait Cassation Court. The ruling marks the resolution of a longstanding dispute concerning the recognition of a
Deal & transactions
Oil & Gas
Saudi Arabia
Aramco Awards $7.7B Contracts for Fadhili Gas Plant Growth
Saudi Arabia’s Aramco, one of the world’s leading integrated energy and chemicals companies, has awarded engineering, procurement, and construction (EPC) contracts totalling $7.7 billion for the expansion of its Fadhili Gas Plant in the
