Clifford Chance Middle East

🌐 AS&H Clifford Chance is delighted to have advised Ajlan & Bros Holding on reaching successful financial close of the Taiba 2 and Qassim 2 IPP projects in Saudi Arabia.   With a total capacity of 3.96 GW, these two Combined Cycle Gas Turbine (CCGT) power projects have been financed through a combination of equity bridge financing and senior debt, for the approximate value of $3.9 Billion (equivalent to SAR 14.6 Billion).   These will be the first two projects in KSA with a provision for carbon capture in line with the Kingdom’s Vision 2030 and the Saudi Green Initiative.   Our cross-border team in Riyadh and Dubai was led by Partner Omar Rashid together with Counsel Aysh-Ahmed Chaudhry. The wider team comprised of Partner Richard Parris and Senior Associate Jonathan Roux on the project diligence (with support from Associates Elsir U. Tawfik, Omar Al Harbi and Marwan Alamoudi, LLM for KSA diligence elements); and Partner Jeremy Barker, Counsel Cheuk Yin Cheung, Senior Associate Suzanne Dand and Associate Marya Manna on the EBL financing documentation. Congratulations to all those involved! Read more: https://lnkd.in/d7qXr4wQ   #ASHCliffordChance #CliffordChance #SaudiArabia #Power #ProjectFinance #SaudiGreenInitiative #Vision2030

We are delighted to share the success of our inaugural Antitrust & Merger Control Conference held yesterday at the Fairmont in Riyadh. It was a privilege to hear insights from Talal Alhogail, M.A. on the recent amendments announced by the الهيئة العامة للمنافسة | General Authority for Competition regarding economic concentrations. 🌐   Key highlights include: • in the context of thresholds for acquisitions – the new requirement for the target to contribute towards the Saudi revenues of the economic concentration parties; • in the context of thresholds for mergers and joint ventures – the new requirement for at least two of the economic concentration parties to have revenues which exceed SAR 40 million; • the introduction of a one-year time limit for transactions to close following GAC approval; • updates to guidance regarding certain 'greenfield' joint ventures; • exemptions from notifying acquisitions of shares by investment funds for investment purposes and without the taking of control; and, • clarifications to the concept of 'control'.   A special thanks to the distinguished panellists and team Talal Alhogail, M.A. Majid Al-Sheikh, Anastasios Tomtsis, Omar Rashid, Guy Norman, Selman Ansari, Marc Besen, Stavroula Vryna, Jomana Alkathiri for sharing their insights and to all that attended.   #SaudiArabia #GeneralAuthorityforCompetition #GAC #Vision2030 #Antitrust #Law

✈ We are delighted to have advised ALAFCO Aviation Lease and Finance Company on the US$3.3 billion sale to Macquarie AirFinance of a portfolio of 75 aircraft and order book of 20 Boeing 737 MAX aircraft.   The portfolio of aircraft sold are on lease to over 20 airlines and were all subject to financing prior to the sale, whilst antitrust clearance in multiple jurisdictions was required. The team was led by Partners Qudeer Latif and Daud Khan with support from various experts from across the Clifford Chance network, including: Financing: Stephen Chance, Igor Bichenkov, Greg Jehle, Vanessa Simpungwe, Remoratile Mogodi, Duaa Abbas, Raad Gorji, Aishah Bashir, and Razan Samkari. Corporate: George Holman, Tom Lloyd, and Stavros Paterakis. Antitrust: Alex Nourry, Gregory Hayes and Mehjabin Ahmed. Employment: Chinwe Odimba-Chapman, Andrew Patterson, Alistair Green, and Leon Kidd. Litigation: Jeff Butler Read more: https://lnkd.in/d7rymhwH #Aviation #Finance #Corporate #Antitrust #Employment #Litigation

📢 AS&H Clifford Chance is excited to be hosting the inaugural Saudi Antitrust & Merger Control Conference in Riyadh, on Wednesday 10 July , 2024.    This conference will bring together our esteemed guest speaker, Talal Alhogail, from the الهيئة العامة للمنافسة | General Authority for Competition, with a distinguished panel of high-profile speakers to discuss critical developments in, and perspectives on, the Saudi Antitrust & Merger Control regimes.   This is an in-person event, targeted at senior representatives of corporate organisations in Saudi Arabia and beyond. 🌐   For more information, please email us at Business.Development@ashcliffordchance.com.   #Antitrust #MergerControl #Conference #SaudiArabia #ASHCliffordChance #SaudiVision2030

✨ #EidMubarak from all of us at Clifford Chance! As we celebrate Eid al-Adha, may the spirit of this blessed occasion fill your hearts with peace, joy, and cherished moments. Wishing you all a blessed celebration filled with happiness, prosperity, and the joy of giving.

🌿 Today, we held a Wellness Expo at our Dubai office, organised by Freya Ferag-Byrne and Zana Goleshi from our HR Team. Our team had the opportunity to engage in activities promoting a balanced and healthy lifestyle. 🧘♀️💆♂️💧🏃♀️ View some highlights from the day: 📸 #WellnessExpo #EmployeeWellbeing #DubaiOffice #TeamHR #WorkplaceWellness

📚 We are thrilled to have a cohort of seven vacation scheme students join us for the 2024 Summer Vacation Scheme at Clifford Chance Middle East.   Keep an eye out for future application openings!   Learn more: https://lnkd.in/d7S-v53x #WhereBrightMindsMeet #CareersInLaw #VacationScheme

We look forward to welcoming Lynn Ammar to our market-leading Corporate M&A practice in the UAE. Lynn will be joining us as a partner from September, bringing a wealth of experience in cross-border M&A and private equity transactions in #MENA. Lynn will be a great addition to our team”, said Mohammed Al-Shukairy, Regional Managing Partner and M&A lead in the region, “Clifford Chance is at the forefront of M&A activity in the region, acting for leading corporates, strategic investors and financial sponsors. Lynn’s arrival further reflects our ambition to continue to grow and strengthen our capabilities by hiring the best talent in the market, alongside nurturing our talented bench of lawyers as they come through the ranks. I am confident that Lynn will thrive on the Clifford Chance platform and I look forward to her joining the firm.” Learn more: https://lnkd.in/d_wihgPV

🌐 We are delighted to have advised ENGIE, GIC, Kyuden and SIO on on the US$1.20 billion refinancing of the Al Dur Power & Water Project in Bahrain. The new 11-year US$1.20 billion refinancing involved a wide range of commercial lenders active in the European and Middle Eastern project finance markets. The financing included over 15 regional and international lenders and hedge providers, via conventional and Islamic facilities. Our cross-border team was led by partner Mohamed Hamra-Krouha (Abu Dhabi) with assistance from partner Chirag Sanghrajka (Dubai), legal consultant Igor Bichenkov (Dubai), senior associate Greg Jehle (Abu Dhabi) and associates Marya Manna (Dubai) and Remoratile Mogodi (Abu Dhabi). The hedging workstream was led by partner Anne Drakeford (London) with assistance from senior associate Brij Patel (London), lawyer Kritika Vidyarthi (London) and trainee solicitor Adelina Maghet (London). The team was further supported by counsel Mike Niekoop (Amsterdam), associate Mariam Al-Zubaidy (Amsterdam) and associate Samuel van Eijnatten (Amsterdam). Read more: https://lnkd.in/dsJqXQbT

🌍 Today, we came together in celebration of UNESCO's World Day for Cultural Diversity for Dialogue and Development.   According to UNESCO data, 89% of all current conflicts in the world occur in countries with low intercultural dialogue. Every year on 21 May, UNESCO leads the celebration of World Day for Cultural Diversity for Dialogue and Development in order to highlight the richness of the world's cultures and generate intercultural dialogue which they believe is essential to achieve peace and sustainable dialogue.   We brought in some of our favourite dishes from our various cultures and hosted a potluck lunch. While the food was diverse and allowed us to learn so much about each other's cultures, what really stood out were the many connections and similarities. 🤝 #UNESCO #Culture #Heritage #DEI