Meysan Advises UPayments in Major Share Transfer Deal
Meysan Partners provided legal counsel to UPayments, a prominent online payment solutions provider, in the sale of a 51% stake to the National Bank of Kuwait (“NBK”). This strategic move highlights UPayments’ success in the Fintech industry, offering innovative electronic payment solutions to streamline businesses across the GCC.
Abdulwahab Sadeq, partner at Meysan, expressed satisfaction with the deal, emphasizing the growth of the Fintech market in Kuwait and its broader impact in the MENA region. He noted the challenges faced during the transaction, particularly objections filed by competitors with the Competition Protection Authority (CPA). Meysan’s regulatory team effectively addressed these challenges, securing CPA approval despite pending approval from the Central Bank of Kuwait.
Established in 2016, UPayments has revolutionized business financial transactions with its digital payment services tailored for businesses and entrepreneurs.
The Meysan team, led by corporate partners Abdulwahab Sadeq (pictured right) and Michel G. Ghanem (pictured left), along with counsel Neyla Rahal.
