Aljazira Capital (‘AJC’) has led Floward’s USD 156 million Series C Pre-IPO investment round with the support of Allen & Overy. The investment round was led by AJC, STV, L.P. and Rainwater Partners. The transaction was announced during the LEAP technology conference in Riyadh, KSA, where Floward shared its ambitions to expand its gifting verticals […]
Baker McKenzie with Kitopi on the acquisition of AWJ Investments
Kitopi, the tech-powered multi-brand restaurant, has completed its acquisition of AWJ Investments, a rapidly-growing food and beverage company based in Dubai that operates several major regional brands. The acquisition will bolster Kitopi’s already-impressive portfolio of regional F&B brands by working with the AWJ Investments team, which has considerable expertise in building high-value brands. This, […]
ADNOC and ENI strengthen cooperation in sustainability sectors
In a bid to accelerate the transition to a low-carbon future, UAE’s Abu Dhabi National Oil Company (‘ADNOC’) and Italian oil & gas group, ENI, have signed a Memorandum of Understanding (‘MoU’) aimed at enhancing cooperation in the field of emissions reduction, new energy technologies, and low-carbon solutions. The MoU, which outlines a framework of cooperation for […]
Latham & Watkins with TotalEnergies on its agreement with CEPSA
TotalEnergies has entered into an agreement with CEPSA, whereby it will acquire CEPSA’s upstream assets in the United Arab Emirates, effective as of January 1, 2023. Latham & Watkins provided legal advice to TotalEnergies in this transaction. The assets to be acquired include a 20% participating interest in the Satah Al Razboot, Umm Lulu, […]
Clifford Chance with Elia on pioneering renewable energy island
Clifford Chance has advised Elia, one of Europe’s top five transmission system operators, in structuring and negotiating the EPCI construction contract for the world’s first artificial renewable energy island. TM Edison, a consortium of two major dredging companies DEME and Jan De Nul, won the contract through a competitive public procurement process. The island […]
DLA Piper: Uniper sells marine fuel trading business in Dubai
DLA Piper provided legal advice to Uniper Group regarding the sale of its crude oil processing and marine fuel trading business in the United Arab Emirates. A consortium composed of Montfort Group and the Private Office of Sheikh Ahmed Dalmook Al Maktoum is set to acquire all the shares of Uniper Energy DMCC, a subsidiary […]
Mazghouny & Co: Scatec signs agreement with Echem and Mopco
Mazghouny & Co has assisted Scatec with signing the joint development agreement concluded with the Egyptian Petrochemicals Holding Company (Echem) and Misr Fertilizers Production Company (Mopco) for cooperation in the field of implementing green projects that include the production of green ammonia from green hydrogen. The agreement was signed on 23 February, by the chairmen of the three companies in the presence […]
ADGM and Zand Bank partner to support Abu Dhabi’s Tech
With its in-house legal team led by Eyad Mahadeen (pictured), chief legal officer and board secretary at ADGM, Abu Dhabi Global Market (ADGM) have joined forces with the UAE’s first all-digital bank licensed by the UAE Central Bank, Zand Bank, to support technology-based small and medium enterprises (SMEs) in Abu Dhabi. As per the Memorandum of […]
Eversheds Sutherland on Gulf Capital’s CWB merger with PETOŠEVIĆ
Gulf Capital’s CWB Group has announced its merger with PETOŠEVIĆ Group, forming an international intellectual property (IP) firm that will cater to clients across 52 countries in the Middle East, North Africa, Eastern Europe, and Central Asia. The newly formed company will offer its clients the full suite of IP services from its 24 offices […]
Abu Dhabi National Oil Company for Distribution (“ADNOC Distribution”), the UAE’s largest fuel and retail distributor, has officially entered the Egyptian market after completing the acquisition of a 50% stake in TotalEnergies Marketing Egypt from TotalEnergies Marketing Afrique. This landmark transaction was first announced in July 2022 and is expected to uplift ADNOC Distribution’s EBITDA from year […]