TCI Sanmar Chemicals (“TCI Sanmar”) has successfully completed the private placement of the company’s Non-Convertible Debentures (“NCDs”) to nine foreign banks through the conversion of 15% of the total debt of TCI Sanmar into a number of 2,353,967 NCDs amounting to USD 117,698,350. Arab African International Bank (“AAIB”) was also involved in the transaction as […]
Commercial International Bank (“CIB”), a private sector bank in Egypt, has acquired a minority stake of 15% of El Sewedy for Engineering Industries (“SEI”). The acquisition will see SEI expanding in the local and regional markets. Matouk Bassiouny & Hennawy (“MBH”) acted as the legal counsel to CIB. The MBH team was led by partner Amr […]
Deal & transactions
Industrial
Saudi Arabia
MAZ Group and Rheinmetall Air Defense create Rad Arabia Co.
The Law Office of Looaye M. Al-Akkas in association with Vinson & Elkins has represented Saudi-based MAZ Group in its Joint Venture with Swiss-based Rheinmetall Defense to create Rad Arabia Co., a manufacturing and development center of air defense systems and technologies in the Kingdom of Saudi Arabia (KSA). RAD Arabia Co. will be a […]
Deal & transactions
Industrial
Other
Med Investment partners with Jotun for the production of paint in Algeria
Med Investment Holding, an investment company owned by the Kerrar family, has concluded a partnership agreement with the Norwegian group Jotun for the production of paint and coatings in Algeria. Production will be provided by a joint venture, Technover P. The joint venture, Technover P, will produce Jotun decorative paints and protective coatings to international standards […]
Industrial
IPOs
United Arab Emirates
Borouge completes its initial listing on Abu Dhabi Securities Exchange
Borouge, the strategic joint venture between Abu Dhabi National Oil Company (“ADNOC”) and Borealis (“Borealis”), providers of innovative and differentiated polyolefin solutions, has listed on the Abu Dhabi Securities Exchange (“ADX”) on June 3, 2022. Upon listing, ADNOC owns a majority 54% stake in Borouge, with Borealis holding 36% via its wholly-owned subsidiary Borealis Middle […]
Deal & transactions
Industrial
United Arab Emirates
CMS advises Aldar investment on the launch of Aldar Logistics
Aldar Investment, the investment business of Aldar Properties, has acquired a 70% equity interest in Abu Dhabi Business Hub, valued at more than AED 500 million. The acquisition sees the creation of Aldar Logistics, Aldar’s new logistics real estate vertical, which will focus primarily on the UAE, with the potential to expand into Saudi Arabia and […]
Deal & transactions
Egypt
Industrial
Other
Saudi Arabia
Dentons: Volkswagen’s Cariad acquires Intenta’s automotive business
Global law firm Dentons has provided comprehensive antitrust advice to Cariad, the software division of the Volkswagen Group, in relation to its acquisition of the automotive business of Intenta. With the acquisition, Cariad is expanding its competencies in the development of autonomous driving vehicles. Intenta’s automotive division employs more than 100 experts in the field […]
