The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Allen & Overy (A&O), Clifford Chance and Clyde & Co have benefited from their longstanding positions in the Middle East to grab roles on the biggest private-sector acquisition of a United Arab Emirates company by a foreign investor.
The firms advised on Australian company Leighton Holdings' $715m (£352.13m) acquisition of a 45 per cent stake in Al Habtoor, the engineering company that built Dubai International Airport.
Al Habtoor was advised by A&O's Dubai-based corporate partner Khalid Garousha, while Leighton turned to Clifford Chance senior associate Mike Taylor.
A&O's instruction came from a recommendation from EFG-Hermes, Al Habtoor's financial adviser, with whom the firm has a longstanding relationship in the Middle East. Although A&O has previously advised Al Habtoor, this is the largest corporate transaction it has worked on for the company.
Garousha said: "This deal encourages everyone to think of the Middle East as an attractive location for foreign investment."
Leighton was also a new client for Clifford Chance, coming from a recommendation by Macquarie Bank.
Clydes advised on the $434m (£213.74m) syndicated financing facility for Leighton, provided by Abu Dhabi Commercial Bank, Royal Bank of Scotland, Mashreq Bank and HSBC.