Etihad Rail, the developer and operator of the UAE National Rail Network, signed an agreement with Oman Rail, the Sultanate’s national developer and operator of railway networks, to jointly establish an equally-owned company, Oman-Etihad Rail Company. The newly created entity will hold an overall investment power of USD 3 billion to design, develop and […]
Deal & transactions
Transport
United Arab Emirates
Safeen Feeders & Invictus Investment launch new dry bulk services
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
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 part of Etihad Rail’s determination to develop technologies that support achieving smart and sustainable mobility. The MoUs will help to further advance the […]
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 between the two companies. No details were provided regarding the ownership structure. The Khartoum-based start-up will operate a fleet of new Airbus A320 aircraft and […]
Shalakany Law Office litigation team has successfully defended a major French automotive company against a EGP 3 billion (approx USD 154 m) court claim. The case was heard before the South Cairo Court after being filed with the Economic Courts and referred to several courts and degrees. Shalakany has acted as a sole legal […]
Restructurings
Transport
United Arab Emirates
Linklaters advises DP World on the restructuring of Portsynergy
Linklaters advised DP World, global supply chain solutions provider, on the restructuring of Portsynergy, a 50:50 joint venture owned by Dubai-based DP World and France-based international container operator, Terminal Link, a joint venture between French shipping company CMA CGM and Chinese port operator China Merchants Port Holdings Company Limited. Port Synergy is the holding company for subsidiary […]
Banking & Finance
Transport
United Arab Emirates
Allen & Overy advises Investcorp on Trukker’s Pre-IPO round
Saudi-based Trukker Holding Limited (“Trukker”), digital freight network providers in the MENA region, has successfully raised USD 100 million in its pre-IPO financing round. The investment was led by the recently-launched Investcorp Saudi Pre-IPO Growth Fund and further included Abu Dhabi’s Mubadala Investment Company, who is an existing investor in the venture, KSA-based Riyad Valley […]
Salik Company, Dubai’s exclusive toll gate operator, has announced its intention to proceed with an initial public offering (IPO) and to list its ordinary shares for trading on the Dubai Financial Market (DFM). As per the released statement, 1.5 billion shares each with a nominal value of AED0.01 will be made available in the Offering, representing […]
Abou Ghaly Motors (“AGM”), specialists in the automotive industry in Egypt, has successfully secured a finance extension from The European Bank for Reconstruction and Development (“EBRD”) to finance AGM’s fleet of range-extended electric vehicle for its London Cab services. A loan of EGP 187.4 million (around EUR 10 million) from the EBRD is being complemented […]
Deal & transactions
Transport
United Arab Emirates
Maersk to expand distribution capacity in new Dubai South complex
Maersk Kanoo UAE (“Maersk”), the global integrated logistics company, signed an agreement with Dubai South, a single-urban master development focusing on aviation, logistics and real estate, for its new warehousing and distribution facility in Dubai. With this new fulfilment centre, Maersk will more than double its total footprint in the UAE. The 15,000 sq. m. Maersk […]
