e& enterprise, part of e& (formerly known as Etisalat Group), and Hub71, Abu Dhabi’s global tech ecosystem, have entered into a definitive agreement to launch the region’s first AI Centre of Excellence (AI CoE). Located at Hub71, the AI CoE will enable companies and start-ups to develop, deploy and scale cutting-edge applications implementing enterprise […]
Banking & Finance
Food & Beverage
United Arab Emirates
Pure Harvest Smart Farms raises USD 180.5mln in latest financing
Pure Harvest Smart Farms (“Pure Harvest”), sustainable technology-enabled agribusiness headquartered in the United Arab Emirates, raised USD $180.5 million in their latest funding round. The oversubscribed funding round was led by existing investors including South
Deal & transactions
Oil & Gas
United Arab Emirates
TAQA and ADNOC come together to acquire Masdar stake from Mubadala
Abu Dhabi National Energy Company (TAQA), Abu Dhabi National Oil Company (ADNOC) and Mubadala Investment Company have entered into binding agreements for TAQA and ADNOC to purchase stakes in Abu Dhabi Future Energy Company (Masdar)
Deal & transactions
Healthcare, Pharma & Life Sciences
United Arab Emirates
ADQ to acquire Turkish pharmaceuticals company Birgi Mefar Group
Turkish pharmaceuticals company Birgi Mefar Group (BMG) has entered into a definitive acquisition agreement with ADQ, an Abu Dhabi- based investment and holding company. BMG is one of Turkey’s leading producers of sterile injectable
Deal & transactions
Transport
United Arab Emirates
Etihad Rail’s AED1.2bn agreement with Spain’s CAF Group
Etihad Rail, the developer and operator of the UAE national railway network, has signed a AED1.2 billion (USD327 million) agreement with CAF Group, a Spanish rail manufacturer, for designing, manufacturing, supplying, and maintaining passenger trains
Deal & transactions
TMT
Transport
United Arab Emirates
Careem expands services with the acquisition of UAE company Munch:On
Ride-hailing company Careem has acquired UAE subscription-based food delivery company Munch:On as it expands food offerings on its multi-services platform. Following the acquisition, Munch:On will stop daily operations and its services
IPOs
Real Estate, Construction & Infrastructure
United Arab Emirates
Tecom Group raises AED1.7bn in its IPO on Dubai Financial
Tecom Group, a strategic business enabler and a part of Dubai Holding, raised AED1.7 billion (USD463.2 million) from its initial public offering on the Dubai Financial Market. Subject to market conditions and the obtaining of
Appointments
Uncategorized
United Arab Emirates
Naji Hawayek named Head of Corporate, Middle East at Clyde &
Clyde & Co has appointed UAE based partner Naji Hawayek (pictured) to head its corporate and M&A practice in the Middle East. The announcement came on a LinkedIn post shared by Hawayek saying:”
Appointments
Uncategorized
United Arab Emirates
Shearman & Sterling welcomes 12 new members to its partnership
Shearman & Sterling has appointed 12 new partners to the firm, span across seven of its offices Abu Dhabi, Austin, Dallas, London, Menlo Park, New York and Washington, D.C. Effective July 1, 2022. The new partners
Banking & Finance
Transport
United Arab Emirates
Abu Dhabi’s IHC and Alpha Dhabi to invest USD50m in
Abu Dhabi-listed companies International Holding Company (IHC) and its subsidiary Alpha Dhabi will invest a combined amount of USD50 million in Space Exploration Technologies Corporation (SpaceX). IHC, which already has a stake
