Taylor Wessing acted for Arab Jordan Investment Bank (AJIB) on its exchange of contracts on 20 January 2014 with HSBC Bank Middle East to acquire HSBC’s business and assets in Jordan.
The transaction is expected to complete during the first half of 2014. It is one of the biggest banking deals that Jordan has ever seen.
AJIB has agreed to pay an undisclosed sum for the business, which at 30 September 2013 comprised four branches with gross assets of approximately $1.2bn (£725m).
The Taylor Wessing team advising AJIB was led throughout by corporate partner Ronald Graham with support from local firm Dajani & Associates.