Etihad Cargo, the cargo and logistics division of Etihad Airways, has signed a new Memorandum of Understanding (MoU) with SF Airlines, the largest cargo airline in China, to expand its reach and connectivity in the Chinese market. The partnership will commence from 28 April 2023, with both carriers operating flights via their respective fleets to […]
Deal & transactions
TMT
United Arab Emirates
Stephenson Harwood: Physicswallah acquires Knowledge Planet
Law firm Stephenson Harwood has advised e-learning provider, Physicswallah, on its acquisition of Knowledge Planet Centre Group, Dubai (Knowledge Planet), operators of after-school learning centres. Knowledge Planet entrance exam preparation institutions caters to students of
Deal & transactions
Fashion, Luxury & Design
United Arab Emirates
Latham & Watkins advises Chimera on the creation of ChimHaeres
Latham & Watkins has advised Chimera Abu Dhabi (Chimera) on its equal joint venture with Haeres Capital (Haeres) to create ChimHaeres Investment Holding (ChimHaeres), an investment vehicle that will deploy its capital towards the acquisition
Deal & transactions
Egypt
Energy & Trading
Other
Qatar
Libya’s Zliten power plant to be built by Qatari-Egyptian consortium
General Electricity Company of Libya (‘GECOL’) has entered into a Euro1.19bn (USD1.3bn) contract with an Egyptian-Qatari consortium for the construction of the Zliten power station. The power station will be supplied
Shalakany advised Liquid Intelligent Technologies on the 100% acquisition of Cysiv MEA, specialists in the cyber security services sector, advised by Baker Mckenzie Egypt. Liquid Intelligent Technologies is a technology group that operates in the areas
Deal & transactions
TMT
United Arab Emirates
e& to acquire majority stake in Careem’s Super App for USD400m
Global technology and investments group e& has entered into a binding agreement with Uber Technologies and its subsidiary Careem to acquire a 50.03% majority stake in the spinout — Careem Technologies — with a USD 400
Deal & transactions
Oil & Gas
Saudi Arabia
Aramco acquires 10% Stake in China’s Rongsheng Petrochemical
Saudi Arabian Oil Company (Aramco) has recently signed definitive agreements to acquire a 10% stake in Rongsheng Petrochemical Co. Ltd. for RMB 24.6 billion (USD 3.6 billion). The acquisition deal will bolster Aramco’s downstream presence in China
Deal & transactions
Egypt
Transport
Baker McKenzie: Hutchison Ports awarded new concessions in Egypt
Hutchison Ports, a renowned port investor, developer, and operator, has been advised by global law firm Baker McKenzie on two new concessions in Egypt, in addition to related shareholding arrangements. The investment, which amounts to
Dubai-based National Paints Holding (‘NPH’) has raised its mandatory tender offer’s (MTO) price for Paints and Chemical Industries (‘Pachin’) to EGP 34 per share, upping it from its initial November offer of EGP 29
Matouk Bassiouny & Hennawy (“MBH”) acted as the legal counsel to Hasan Allam Utilities, the investment and development arm of Hassan Allam Holding, in its joint venture with Agility, the industrial development specialist, to establish
