Clyde & Co has promoted 22 of its international lawyers to equity partner, effective 01 May 2023. The promotions reflect the firm’s continued broad growth across its regions and practices. Five promotions in Dubai, the highest figure
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Deal & transactions
Transport
United Arab Emirates
Etihad Cargo expands reach China through SF Airlines partnership
Etihad Cargo, the cargo and logistics division of Etihad Airways, has signed a new Memorandum of Understanding (MoU) with SF Airlines, the largest cargo airline in China, to expand its reach and connectivity in the
Kyriakos Fountoukakos (pictured) has been appointed as the new Managing Partner of Herbert Smith Freehills‘ global Competition, Regulation and Trade (CRT) Practice, effective from May 1. Fountoukakos will take over from Stephen Wisking, who will continue
Deal & transactions
Egypt
Energy & Trading
Other
Qatar
Libya’s Zliten power plant to be built by Qatari-Egyptian consortium
General Electricity Company of Libya (‘GECOL’) has entered into a Euro1.19bn (USD1.3bn) contract with an Egyptian-Qatari consortium for the construction of the Zliten power station. The power station will be supplied
Deal & transactions
TMT
United Arab Emirates
e& to acquire majority stake in Careem’s Super App for USD400m
Global technology and investments group e& has entered into a binding agreement with Uber Technologies and its subsidiary Careem to acquire a 50.03% majority stake in the spinout — Careem Technologies — with a USD 400
Contact Financial, an Egyptian consumer finance company, has successfully completed an EGP 1.9 billion securitized bond issuance for its consumer finance arms Contact Creditech and Contact Credit. The issuance, which is supported by an EGP 2.9 billion
Akin announced the full launch of Innovative Legaltech Solution, OverRuled, a platform developed and owned by Akin Gump Solutions. OverRuled empowers lawyers and compliance practitioners to access and analyze consolidated data
Vinson & Elkins and co-counsel Cleary Gottlieb successfully represented client Republic of Iraq (“Iraq”) in an ICC arbitration it brought in May 2014 against the Republic of Turkey (“Turkey”) and arising out of Turkey’s violations
Banking & Finance
IPOs
United Arab Emirates
Clifford Chance advises on Al Ansari Financial Services IPO
International law firm Clifford Chance has acted as international issuer’s counsel to Al Ansari Financial Services on its highly successful initial public offering (IPO) and listing on the Dubai Financial Market (DFM). Following the
EFG Hermes, the investment bank franchise specializing in Frontier and Emerging Markets (FEM), has successfully concluded its advisory role in valU’s fourth securitized bond issuance, valued at EGP 856.5 million. The transaction is part of
