Abu Dhabi Commercial Bank (“ADCB”) has successfully priced its inaugural green bond, raising USD 500 million to support the financing of low-carbon initiatives. The bonds will be issued on 14th September 2022 and due in 2027. The oversubscribed 5-year bond attracted a local and international investors that placed total orders of over USD 1.9 billion. […]
Deal & transactions
Transport
United Arab Emirates
Maersk to expand distribution capacity in new Dubai South complex
Maersk Kanoo UAE (“Maersk”), the global integrated logistics company, signed an agreement with Dubai South, a single-urban master development focusing on aviation, logistics and real estate, for its new warehousing and distribution facility in
Deal & transactions
TMT
United Arab Emirates
Beeah Digital and Khazna Data Centers join forces on JV
Beeah Digital, Beeah Group’s digital transformation and future technology business, and Khazna Data Centers (“Khazna”), wholesale data centre providers in the MENA Region, have formed a joint venture that will bring to Sharjah
Capital Markets
Energy & Trading
Qatar
United Arab Emirates
Dentons advises Tabreed on the sale of its 44% stake
National Central Cooling Company (“Tabreed”) has disposed of a 44% stake, valued at AED417 million (USD113.5 million), in Qatar District Cooling Company (“Qatar Cool”) to United Development Company. The proceeds of the transaction will be used
Oil & Gas
Private Clients
United Arab Emirates
Clyde & Co represents ABNIC in oil tanker disappearance claim
Global law firm Clyde & Co has successfully represented Al Buhaira National Insurance Company (“ABNIC”) in a marine insurance case in the Dubai International Financial Centre (“DIFC”) Courts. The Clyde & Co team was led
Banking & Finance
Deal & transactions
United Arab Emirates
First Abu Dhabi Bank enters into a partnership with Silver
First Abu Dhabi Bank (“FAB”) has signed a partnership agreement with Silver Birch Finance Limited (“Silver Birch”) to offer inventory solutions to local and international clients. This partnership enables FAB and Silver Birch
Deal & transactions
Oil & Gas
United Arab Emirates
ADNOC awards an AED2b contract for Lower Zakum field gas line
Abu Dhabi National Oil Company (“ADNOC”) has awarded a AED2.01 billion (USD548 million) contract to build a new main gas line at its Lower Zakum field offshore of Abu Dhabi. The Engineering, Procurement and Construction (
Abu Dhabi-headquartered international energy company, Mubadala Petroleum, has unveiled its new brand name – Mubadala Energy. The new brand reflects a fresh strategic direction that will see Mubadala Energy build on its contribution to the energy
Appointments
Saudi Arabia
United Arab Emirates
Omar Iqbal joins Baker Botts private equity and m&a practice
Omar Iqbal (pictured) joins the partnership of International law firm Baker Botts. Iqbal joined the firm’s Riyadh office, where it operates in association with the Law Office of Mohanned bin Saud Al-Rasheed. Iqbal’s
Deal & transactions
Fashion, Luxury & Design
United Arab Emirates
Noon to acquire Emaar’s fashion venture Namshi for AED 1.23B
Emaar Malls Management (“Emaar Malls”) has entered into a definitive share purchase agreement with Noon, an e-commerce company backed by Dubai billionaire Mohamed Alabbar and Saudi Arabian sovereign fund the Public Investment Fund (“PIF”),&
