Tag: abu-dhabi
Written by Jad on 01 November 2018.
♦ Moves News ♦ Abu Dhabi, UAE
Global, sector-focused law firm HFW has continued to expand its fast-growing Middle East practice with the hire of senior infrastructure partner Richard Lucas. Richard joins HFW’s newly launched Abu Dhabi office from Bird & Bird, where he headed the firm's Middle East defence and infrastructure practices. Richard will become head of HFW’s Abu Dhabi office, which opened on 1 October with the hire of two finance and corporate partners from Reed Smith: Vince Gordon, the US firm's regional managing partner for the Middle East, and Tania De Swart. The firm also recently boosted its Dubai office with the hire of Trowers & Hamlins construction partner and international disputes head James Harbridge. HFW now has 20 partners and more than 50 lawyers – including 28 Arabic speakers – in five offices across the Middle East, making it one of the largest practices of any international law firm in the region. Richard Gimblett, Dubai Office Head, HFW: "These are exciting times for HFW in the Middle East. Richard’s arrival is a massive boost for our new Abu Dhabi office and our projects practice throughout the Middle East, and further reinforces our commitment to the region. Our Middle East practice has more than doubled over the past three years and we are now one of the biggest international law firms in the market. We will continue to strengthen across our core sectors and services as part of our strategy to be the leading international law firm in the region.” Richard specialises in infrastructure and PPP projects, with a particular focus on the defence, energy and transport sectors. He relocated to Abu Dhabi in 2015, having joined Bird & Bird in London in 2009. Richard previously spent more than a decade as a partner in the projects group at Berwin Leighton Paisner (now BCLP). Richard Lucas, Partner, HFW: "I am very excited to be joining what is now clearly one of the leading firms in the Middle East. Many other international law firms are downsizing in the Middle East, but HFW has continued to invest and build its offering to clients across the region. In terms of my own practice, it is highly advantageous to be joining a growing firm at a time when PPP is becoming ever more popular in the MENA region." Richard is the second projects partner to join HFW in the past month, after senior project finance partner Andrew Thomas joined the firm’s London office from Huntons Andrews Kurth. HFW's global energy practice now has 34 partners and more than 100 lawyers in 20 international offices across the Americas, Europe, the Middle East, Asia and Australia. Energy is one of the firm's six core sectors, alongside aerospace, commodities, construction, insurance and shipping. HFW has now added 24 new partners so far in 2018, including nine internal promotions and 15 lateral hires across Abu Dhabi, Brussels, Dubai, Hong Kong, Houston, London, Rio de Janeiro and Singapore. HFW also recently entered into a cooperation arrangement with Brazilian law firm CAL– its seventh international merger or association since January 2016 – and having launched in Abu Dhabi now has 20 offices worldwide.
Written by Jad on 17 August 2017.
♦ Recent Deals ♦ Abu Dhabi, UAE
Akin Gump has advised Abu Dhabi Global Market (ADGM), the International Financial Center in Abu Dhabi, in the creation and launch of the UAE’s first of its kind foundations regime in support of more effective structures for wealth preservation and wealth management. The regime provides a strategic platform for financial planning and structuring, serving as an alternative to trusts and corporate vehicles. For the first time in the UAE, the local, private and corporate community can now efficiently and locally deploy these structures for a variety of services, including family succession planning, tax planning, asset protection, wealth management and corporate structuring, without relying on foreign regimes and practices. Jonathan Ivinson, a partner in Akin Gump’s cross-border transactions practice, said, “It has been an honor for Akin Gump to be involved in the development of this exciting addition to ADGM’s product offerings. This foundation law combines a robust governance and compliance regime with a high degree of operational autonomy to the founder and additionally offers access to the double tax treaty network of the United Arab Emirates. For these reasons we expect it to be a compelling alternative to the common law trust and a market leader among jurisdictions that offer foundations.” The regime and offerings take effect immediately. Mr. Ivinson, leading the Akin Gump team advising ADGM, was supported by global project finance associate Jeff Quinn-Cane.
Written by Jad on 15 March 2017.
♦ Recent Deals ♦ Abu Dhabi, Middle East, UAE
On February 28, 2017, Abu Dhabi Water & Electricity Company (ADWEC) and a consortium comprising Marubeni Corporation and JinkoSolar entered into a power purchase agreement (PPA) for the 1,170 MW Sweihan Solar PV Independent Power Project in Abu Dhabi. The project will be the world’s largest solar photovoltaic (PV) plant. The project is due to enter into operation in the second quarter of 2019 and represents an important part of the UAE’s plans for strategic diversification involving clean energy resources. Akin Gump is acting as legal advisor to ADWEC and its parent, the Abu Dhabi Water & Electricity Authority (ADWEA), in the development and financing of the project. Chadi Salloum, co-partner in charge of Akin Gump’s Abu Dhabi office; Ed Zaelke, chair of Akin Gump’s global project finance practice; and Dan Sinaiko, partner in the firm's global project finance practice, are leading the deal team for Akin Gump. They are supported by senior counsel Shawn Davis and David Lee, counsel Nidal Daraiseh and Inderveer Hothi and associate Jeff Quinn-Cane.
Written by Jad on 12 May 2016.
♦ Recent Deals ♦ Abu Dhabi, Dubai, UAE
Global law firm Clyde & Co has advised Hawar Group in connection with the acquisition of a 30% stake in STEAG Power Minerals GmbH, a German company operating internationally in the power generation sector. Hawar Group was established in Doha by Emad Al-Darwish in 1982. Since its formation, the Group has made a significant contribution to the development of the energy and engineering sectors in Qatar. The transaction, which marks Hawar Group's first foray into the European market, required specialist input from our Corporate and EU regulatory practices, which worked seamlessly together with local support in Germany, to provide comprehensive support to the client. Partner, Prarthna Chaddha, said: "We are delighted to have worked with Hawar Group on this milestone transaction. Our extensive experience in the Middle East and our long standing relationship with the client enabled us to combine regional know-how and global transactional expertise, thereby providing a one-stop shop to the client, and facilitating a smooth and efficient completion." Emad Al-Darwish, founder of Hawar Group, said: "We are excited about our entry into the European market by way of this venture with STEAG. We are committed to enhancing the value of SPM and supporting the development of the brand. All our external colleagues working on the transaction have provided exemplary support to ensure that commercial objectives were met in a timely fashion, without compromising on quality and service delivery." The firm's role on this transaction highlights its deep knowledge, local expertise and understanding of international M&A transactions involving companies and operations in the Middle East. Clyde & Co's team was based in Dubai and led by Corporate partners, Prarthna Chaddha and Abhi Jalan and supported by associates Stephen McKenna and Raeesa Chowdhury.
Written by Jad on 25 March 2016.
♦ Recent Deals ♦ Abu Dhabi, Middle East, UAE
Global law firm White & Case LLP has advised six Export Credit Agencies - Atradius DSB, Euler Hermes, K-Exim, K-Sure, SACE and UKEF - and a syndication of nineteen international and regional banks in connection with the development and financing for the US$6.4 billion Liwa Plastic Industries Complex in Oman. The financing will be one of the largest project financings in the region to reach financial close in 2016, with US$3.8 billion committed senior debt. "This was a significant transaction and represents one of the largest ever projects financed in Oman," said White & Case partner Mark Castillo-Bernaus. "It was a testament to all parties involved in achieving a successful major financing under challenging market conditions." The Liwa Plastic Industries Complex is owned by Oman Oil Refineries and Petroleum Industries Company SAOC (ORPIC) – which is in turn owned by the Government of Sultanate of Oman and Oman Oil Company. Upon commissioning (expected in 2020), the Liwa Plastic Industries Complex will build on ORPIC's product mix and, when combined with ORPIC's existing refinery capabilities, represent a world class integrated refinery and petrochemical facility in line with Oman’s long term objectives in the downstream sector. White & Case advised the Export Credit Agencies and the syndicate of lenders (covered and uncovered) on all aspects of this landmark transaction. A team of lawyers from across the Firm's global network (primarily in Abu Dhabi and London) worked on the financing, which was concluded within a highly accelerated timetable. The team was led by London based partner Mark Castillo-Bernaus, alongside Michael Watson in Abu Dhabi, and supported by Abu Dhabi based partner Matt Wood and associates Sherief Rashed, Nneka Wood, Yasser Riad, Alex Malahias, Sara Al-Awadhi and Jennifer Shattock. Also acting as ECA Coordinator was EY/AHB, who worked closely with White & Case throughout the transaction.