Asafo & Co. advised Disty Technologies on its IPO, the first ever, on the Alternative Market of the Casablanca Stock Exchange. Disty Technologies, Moroccan importer and distributor of IT equipment and solutions, has successfully listed
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Ahli United Bank (“AUB”) has secured a USD1.1 billion sustainable Murabahah financing facility. The dual-tranched facility is the first of its type raised by a financial institution worldwide, according to the bourse filing. The three-year
Deal & transactions
Food & Beverage
Saudi Arabia
Tanmiah Food Company and Tyson Foods sign strategic partnership
US-based Tyson Foods and Saudi-based Tanmiah Food Company (“Tanmiah”) have entered into a strategic partnership agreement to accelerate growth in agrifood and poultry production capacity and to meet growing global protein demand. The parties to
Deal & transactions
Egypt
Energy & Trading
Infinity Group and Africa Finance Corporation acquire Lekela Power
Infinity, a renewable energy company based in Egypt, and Africa Finance Corporation (“AFC,”), infrastructure solutions provider, are to acquire Lekela Power from Actis and Mainstream Renewable Power, in a deal that will make Infinity the
Banking & Finance
Energy & Trading
Other
Asafo & Co. advises Norfund in its investment in CrossBoundary
Norfund and KLP, Norway’s largest pension company, will together invest USD 40 million in equity in CrossBoundary Energy (CBE), a developer, owner, and operator of commercial and industrial renewable energy systems in Africa. The investment
Deal & transactions
Transport
United Arab Emirates
Emirates and Air Canada enter into a strategic partnership agreement
Emirates has formed a strategic partnership with Air Canada, Canada’s flag carrier and a founding member of Star Alliance. The agreement will create more options for customers when travelling on the carriers’ networks while
AS&H in cooperation with Clifford Chance advises the Ministry of Commerce in relation to drafting the new Companies Law. The new Companies Law is considered a significant milestone towards achieving the Kingdom’s
Deal & transactions
News
United Arab Emirates
Meysan Partners partners up with Emirati firm Abdulla Al Najjar
Abdulla Al Najjar Advocates and Legal Consultants, a Dubai-based law firm, has joined Meysan Partners to serve the latter’s clients in the United Arab Emirates in all types of litigation matters. Abdulla Alnajjar Advocates &
Deal & transactions
Saudi Arabia
Saudi Arabia’s Aramco expands Namaat industrial investment programs
The Saudi Arabian Oil Company (“Aramco”) has announced a major expansion of its Namaat industrial investment programs, with 55 agreements and Memoranda of Understanding (MoUs) across the sustainability, digital, industrial, manufacturing and social innovation sectors.
IPOs
Real Estate, Construction & Infrastructure
United Arab Emirates
Tecom Group completes DFM listing and raises USD462m in IPO
Tecom Group, a manager and operator of 10 strategic, sector-focused business districts across Dubai, has successfully raised approximately AED 1.7 billion (USD462.8m) through an initial public offering (“IPO”). The Group has listed on the Dubai Financial
