Allen & Overy seals two deals for Kingdom of Morocco

In the first deal, which was signed on 24 November, A&O advised the Kingdom of Morocco and the Moroccan Fund for Tourism (as sponsor) on a joint venture with investors Qatar Holding, Al Ajial Investment Fund Holding and Aabar Investments PJS.

The joint venture, in which the investors have committed $2.7bn, is part of the Ministry of Tourism of the Kingdom of Morocco’s 10-year tourism plan to double the number of tourists visiting the country each year to 20 million by 2020.

Casablanca managing partner Hicham Naciri led on the deal for A&O.

August & Debouzy, Gide Loyrette Nouel and Freshfields Burckhaus Deringer advised investors Al Ajial Investment Fund Holding, Aabar Investments and Qatar Holding LLC, respectively.

In the second deal, also signed on 24 November, A&O advised the Kingdom of Morocco on a $2bn investment fund with Qatar Holding, established to invest in a range of sectors, including energy, industry, infrastructure, telecommunication, IT, agriculture, securities and real estate, in Morocco and the wider Maghreb region.

Again, Hicham Naciri led for A&O, while Qatar Holding was advised by Freshfields’ Middle East head Pervez Akhtar, who joined the firm from A&O in 2010 (17 December 2010).

A&O opened its Casablanca office in September after hiring a team of lawyers from Gide Loyrette Nouel – Naciri & Associés (20 July 2011).