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).
Integrated energy company, Eni has successfully completed the acquisition of BP’s two gas-producing concessions “in Amenas” and “in Salah” jointly operated with Sonatrach and Equinor. This acquisition has an important strategic value
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
Capital Markets
Energy & Trading
United Arab Emirates
Taqa and Mubadala to acquire 40% in 2 power plants
Integrated utilities companies Abu Dhabi National Energy Company (“TAQA”) and Mubadala Investment Company (“Mubadala”) signed binding agreements that will see the acquisition of a 40% in two gas-fired power generation plants in the Talimarjan power
Abu Dhabi Commercial Bank (“ADCB”) has successfully priced its inaugural green bond, raising USD 500 million to support the financing of low-carbon initiatives. The bonds will be issued on 14th September 2022 and due in 2027. The
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
Banking & Finance
Corporate
Saudi Arabia
Bank Albilad’s Enjaz Payment Services Company now incorporated
Bank Albilad, a Saudi joint stock company, headquartered in Riyadh, has successfully carve out of its remittance business, Enjaz, into a new payment services company. The new company has been licensed by the Saudi
Deal & transactions
TMT
United Arab Emirates
Beeah Digital and Khazna Data Centers join forces on JV
Beeah Digital, Beeah Group’s digital transformation and future technology business, and Khazna Data Centers (“Khazna”), wholesale data centre providers in the MENA Region, have formed a joint venture that will bring to Sharjah
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
Capital Markets
Energy & Trading
Qatar
United Arab Emirates
Dentons advises Tabreed on the sale of its 44% stake
National Central Cooling Company (“Tabreed”) has disposed of a 44% stake, valued at AED417 million (USD113.5 million), in Qatar District Cooling Company (“Qatar Cool”) to United Development Company. The proceeds of the transaction will be used
