31 ASIAN LEGAL BUSINESS – JUNE 2024 WWW.LEGALBUSINESSONLINE.COM MIDDLE EAST Magic Circle law firm Clifford Chance has bolstered its Middle East transactional capabilities with the addition of partner Lynn Ammar from U.S. firm Cleary Gottlieb Steen & Hamilton. Ammar, who joins Clifford Chance’s global M&A practice, has close to two decades of experience in cross-border transactions and private equity deals, with more than a decade-long focus on the Middle East and North Africa region. Ammar recently advised OCI N.V. on the announced $3.62 billion sale of its 50 percent stake in Fertiglobe to Abu Dhabi National Oil Company. Her recent experience also includes advising Fertiglobe in various joint ventures to establish low-carbon hydrogen projects in the UAE and Egypt, as well as several leading GCC sovereign wealth funds on outbound investments into the U.S. and Europe. Clifford Chance’s M&A team has 13 offices across the region, including offices in Abu Dhabi, Dubai, Istanbul, and Riyadh. White & Case has guided Saudi group Dr Soliman Abdul Kader Fakeeh Hospital on its 2.86-billion-riyal ($763.4 million) initial public offering. Baker Mckenzie’s Saudi associate firm Abdulaziz Alajlan & Partners advised the financial advisor, joint bookrunner, underwriter and lead manager of HSBC Saudi Arabia and joint book runners ANB Capital and EFG Hermes on the deal. The listing is touted to be the biggest of the year. The group said that the retail tranche of its IPO was oversubscribed 14.5 times, reaching 4.15 billion Saudi riyals. Addleshaw Goddard has continued its growth in the Middle East with the addition of partner Rachel Hill to its employment practice in the UAE. Her hire follows the arrival of Anna Zeitlin from PwC to develop the firm’s Middle East fintech practice. Hill joins from Hadef & Partners and has spent the last 10 years in the Middle East, providing strategic advice on employment law and immigration procedures. At Addleshaw Goddard, Hill will focus on Dubai International Financial Centre (DIFC), Abu Dhabi Global Market (ADGM), and UAE onshore employment laws and advice. She previously worked at McCartan Turkington Breen Solicitors, DLA Piper, and Al Tamimi & Company. White & Case served as international counsel and Ibrahim and Partners as UAE counsel to Dubai-based supermarket chain operator Spinneys on its $375.75 million IPO on the Dubai Financial Market. Linklaters advised the joint global coordinators and joint bookrunners, Emirates NBD Capital, Merrill Lynch International and HSBC Bank Middle East, and joint bookrunner, EFG Hermes. Spinneys is the first Dubai International Finance Centre company to list on the DFM and the second Dubai IPO to include a price stabilization mechanism. Al Tamimi & Company has expanded its UAE capabilities with the addition of arbitration partner Paul Taylor and corporate partner Henry Storrar. Taylor, who was previously the head of Eversheds Sutherlands’ Dubai office, will head Al Tamimi’s regional arbitration practice. Taylor has expertise in handling complex disputes and arbitrations in the infrastructure, energy, and construction sectors. He has been in the Middle East for almost two decades, including a five-year stint at Reed Smith. Storrar comes back to private practice from his in-house role as senior legal counsel at Waha Capital. He has also spent time at Morrison & Foerster, Orrick, Herrington & Sutcliffe, and Allen & Overy. Dubai-headquartered Habib Al Mulla and Partners became the first Arab law firm to launch in Russia with a new office in Moscow. This is the firm’s second international expansion in the last six months, following an office launch in Istanbul at the end of last year. “A key aspect of Habib Al Mulla and Partners’ value proposition lies in its plans to service Emirati businesses and investments venturing into the Russian market and beyond. By positioning itself as the first and only UAE legal firm in Russia, Habib Al Mulla and Partners aims to gain a competitive advantage and establish itself as a trusted advisor, thereby expanding its market share internationally,” the firm said in a statement. The latest partner hires, big-ticket deals, office openings and more. COMPILED BY NIMITT DIXIT MIDDLE EAST NEWS ROUNDUP: JUNE 2024 Image: premiumicon/Shutterstock.com
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