DLA Piper advises AD Ports on KEZAD – EAJ merger
Global law firm DLA Piper has advised AD Ports Group on the merger of KEZAD Communities with Al Eskan Al Jamae Group (EAJ), leading to the creation of the largest integrated staff accommodation firm in Abu Dhabi. The equity value of the combined entity amounts to roughly $1.9 billion (AED7 billion).
KEZAD Communities, which is part of Khalifa Economic Zones Abu Dhabi (KEZAD) under AD Ports Group’s Economic Cities and Free Zones, merged with EAJ, a renowned staff accommodation owner and operator in Abu Dhabi that runs ICAD Residential City in Mussafah. ICAD Residential City can accommodate up to 58,000 people and offers amenities such as a mall and restaurants.
Following the merger, KEZAD Communities will own and manage 135,000 beds and provide integrated staff accommodation solutions to customers with facilities such as sports areas, medical centres, dining halls, mosques, supermarkets, gardens, and laundry services. AD Ports Group will retain a controlling majority stake in the newly formed entity.
The DLA Piper team was led by Middle East Head of Corporate Will Seivewright (pictured above) and Middle East Head of Real Estate Duncan Pickering, working alongside Robert Harker (partner, project finance), Nicola De Sylva (legal director, real estate), Mona Lemp (senior associate, corporate), Nassar Nassar (associate, corporate) and Rayane Hayek (paralegal, corporate).
The in-house legal team at AD Ports Group was led by Jason Walters and Jai Kumar.