AD Ports Group’s Safeen Feeders has signed a strategic agreement with Invictus Investment to launch a new international dry bulk shipping service. Under the terms of the agreement, the two companies will purchase ships through Special Purpose Vehicles, owned 85% by Safeen Feeders and 15% by Invictus Investment. In addition, Safeen Feeders and Invictus Investment […]
Deal & transactions
Egypt
Fashion, Luxury & Design
Al Tamimi & Co advises ECC on the acquisition into
Egyptian Company for Cosmetics (“ECC”), an Egypt-based specialised contract manufacturer for the cosmetics and personal care industries, has acquired a majority stake in beauty products marketplace Source Beauty, for an undisclosed amount.
Deal & transactions
Oil & Gas
United Arab Emirates
Adnoc Drilling acquires two Premium Jack-Up Rigs for USD140m
Adnoc Drilling Company has signed a Sale and Purchase Agreement (“SPA”) to acquire an additional two premium offshore jack-up drilling units (the “rigs”) for USD140 million to meet Adnoc’s plan to raise and sustain
Deal & transactions
Transport
United Arab Emirates
UAE’s Etihad Rail signs four MoUs during Innotrans
UAE’s national railway network Etihad Rail has entered into four memorandum of understandings (MoUs) with SNCF International, Alstom, Thales Group and Progress Rail at the InnoTrans exhibition in Berlin, Germany. The agreements come as
Deal & transactions
Transport
United Arab Emirates
Air Arabia launches new airlines with Sudan’s Dal Group
United Arab Emirates-listed carrier Air Arabia and Sudanese conglomerate DAL Group have partnered to launch a new airline based in Sudan’s Khartoum International Airport. Air Arabia Sudan will be a joint venture
Deal & transactions
Egypt
Food & Beverage
Expedition Investments consortium completes acquisition into Domty
Expedition Investment consortium (the “Consortium”) has successfully completed the Mandatory Tender Offer (“MTO”) of a minority stake (32.9%) in of Arabian Food Industries Co. (“Domty”). The Consortium acquired 97% of the offered shares (96.2 million shares) at a
Deal & transactions
Oil & Gas
Saudi Arabia
United Arab Emirates
TAQA acquires Al Mansoori Petroleum Services. The advisors
Industrialization and Energy Services Company (“TAQA”) and the shareholders of Al Mansoori Petroleum Services LLC (“AMPS”) have announced today that they have entered into a definitive agreement for TAQA to acquire 100% of AMPS, expanding TAQA’
Deal & transactions
Egypt
Energy & Trading
Elsewedy Electric secures contracts valued at USD113 m in Toshka
Elsewedy Electric for Trading and Distribution, a subsidiary of Elsewedy Electric, has signed three contracts worth EGP 2.2 billion (approx USD 113.3 million) to establish transformer stations in the South Valley Development project which aims to reclaim 375,000
Deal & transactions
Energy & Trading
Other
Airut advises MEP in connection to Iraq-based Hydropower plant
Airut Law Offices (“Airut”) has advised Middle East Power (“MEP”) in respect to the drafting and review of the Operation and Maintenance Agreement for the Deralok 37 MW hydropower plant located in Duhok, Kurdistan Region Governorate,
Integrated energy company, Eni has successfully completed the acquisition of BP’s two gas-producing concessions “in Amenas” and “in Salah” jointly operated with Sonatrach and Equinor. This acquisition has an important strategic value
