Aviation services corporation, Dubai Aerospace Enterprise (“DAE”) has completed the previously announced acquisition of SKY Fund I Irish and its subsidiaries (“SKY Fund I”) on 18th November. Sky Fund I owns and is committed to own 36 aircraft on lease to 14 airline customers in 11 countries. Next generation technology aircraft represent more than 90% of […]
Legal advisors, Abdulaziz Alajlan & Partners alongside Baker McKenzie, London, have acted for the underwriters on Arabian Drilling Company’s (“Arabian Drilling”) initial public offering at SAR 100 per share on the Saudi Stock Exchange (Tadawul)
Deal & transactions
Industrial
United Arab Emirates
Emirates Global Aluminium and ITOCHU to explore joint projects
Emirates Global Aluminium (“EGA”) and ITOCHU Corporation of Japan signed an agreement to explore joint projects in the UAE, which would advance the goals of the UAE’s Operation 300 billion industrial growth strategy. The
Saudi-based Retail enablement company Zid has raised USD50 million in Series B funding round (~188 million SAR). The round was led by IMPACT46 with participation from investors including Aramco venture capital arm (Waed Ventures) and Endeavour
Capital Markets
Real Estate, Construction & Infrastructure
United Arab Emirates
Dentons with Arada Developments on its USD100 million sukuk tap issuance
Arada Developments (“Arada”), the property developer in the Northern Emirates of the United Arab Emirates, has successfully closed a $100 million tap of its existing $350 million Sukuk, which was issued in June and listed on
Lumen Technologies (“Lumen”), a multinational technology company, entered into an exclusive arrangement for the proposed sale of Lumen’s Europe, Middle East and Africa (“EMEA”) business to digital infrastructure company Colt Technology Services (“Colt”)
German rail mobility solutions provider, Deutsche Bahn International Operations (“Deutsche Bahn”), part of DB E.C.O. Group; and Elsewedy Electric have signed a 15 years operations and maintenance agreement with National Authority
Deal & transactions
Other
Transport
Asafo & Co. advised Forafric in its acquisition into Groupe Sahel
Asafo & Co. advised Moroccan miller Forafric Global (“Forafric”) on its acquisition of a controlling interest in Groupe Sahel, a major cereal industry producer in the Sahel region. Forafric is the leader in flour
Deal & transactions
Transport
United Arab Emirates
Global Feeder Shipping sells majority stake to Abu Dhabi Ports
Dubai-based Global Feeder Shipping (“GFS”), a feeder and container shipping provider, has signed an agreement to sell 80% of their stake in GFS to Abu Dhabi Ports Group (“ADP”), a UAE-listed end-to-end logistics business.&
Deal & transactions
TMT
United Arab Emirates
Clifford Chance advises MVP Tech Group on sale to Convergint
MVP Tech Group, a UAE-based security, IT Infrastructure and software engineering company serving private enterprises and government clients, has successfully completed the sale of its business to Convergint, a US-based global in service-based systems
