Most Highly Regarded Firms: UAE 2008 - Mergers & Acquistions
The United Arab Emirates is a hive of M&A activity, largely bucking the downturn in transactional volume in the rest of the world. Its importance is reflected by the muscular presence of several heavyweight international law firms, including several from the UK's Magic Circle.
One such firm is Allen & Overy, which finds three of its lawyers in this chapter. The firm has had a presence in the Middle East for over 30 years and is well known for its track record of high-profile cross-border projects, acquisitions and disposals. Khalid Garousha was picked out by his peers as "truly excellent"; he "works hard and really knows his stuff". Based in the UAE since 2000, he is recognised for his cross-border transactional practice and a full range of corporate finance work. Pervez Akhtar was described as a "formidable M&A lawyer", and he has more than 15 years' experience in corporate and corporate finance work behind him. He recently advised Noor Investment Group on its strategic joint venture with Adventity BPO India. Simon Roderick is a "pleasure to deal with"; he has a "vast wealth of experience" that encompasses commercial transactions, joint ventures, privatisations, projects and acquisitions.
Linklaters LLP is similarly well represented. Ewan Cameron is managing partner of the Dubai office and has been based in Dubai for 14 years. He advised Emirates Bank International on its US$13 billion merger with National Bank of Dubai - the first complex public tender offer in the Gulf - and is rated as "one of the top guys in the UAE" by our sources. Scott Campbell is "one of the few major players who works on the really big deals" and acted alongside Cameron on the Emirates Bank International merger with National Bank of Dubai. Held in extremely high regard by his peers ("I wouldn't hesitate in referring work to him", said one), he is "incredibly user-friendly, tactically astute and commands a fine following". Nick Garland is "building an impressive profile in the region". Known for his public and private M&A work, he was involved in the acquisition by Franklin Templeton of a stake in Algebra Capital, a DIFC-incorporated company.
Clifford Chance LLP finds two of its partners featured in this chapter. The "top-notch" Simon Clinton was commended for his European and Asian cross-border M&A practice, and has experience of the aerospace, defence, telecommunications, energy and retail industries. Iain Hunter "knows his way around the local market", and has an "excellent reputation" based upon his domestic and cross-border M&A and public takeovers on behalf of investment banks and corporate clients.
Bruce Embley gives Freshfields Bruckhaus Deringer LLP a presence in the following pages. Head of the Middle East and North Africa corporate practice, he is viewed as "very effective and a pleasure to work with or against". He recently advised Dubai Capital Group on the US$1.3 billion acquisition of Egyptian Fertilizer Company, Goldman Sachs on the merger of Emirates Bank and National Bank of Dubai, and Dubai International Capital on its possible bid for Liverpool Football Club. He is summed up by one peer as a "dependable, highly effective lawyer who really fights for his clients".
Clyde & Co LLP provides more than one name for our list. Niall O'Toole in Abu Dhabi is "very highly rated locally" and recently acted for a government related entity in connection with four separate hotel joint ventures with a total investment in excess of 2.5 billion dirhams (approximately US$681 million). He has also advised a venture capital fund in acquiring a controlling interest in a maritime, construction and engineering business in Abu Dhabi, and is well regarded for his work relating to joint ventures, corporate acquisitions and disposals and related local regulatory requirements. His colleague Jonathan Silver is a "name of long standing in the region" - he has over 27 years of experience working in the Middle East. Highly rated across a range of fields, Silver advised a multinational corporation on the acquisition of a health-care business operating in seven countries in the Middle East as part of a global acquisition worth in excess of US$8 billion. "Well connected" and "a pleasure to deal with", he earns a place in our M&A and capital markets chapters.
Zubair Mir at Herbert Smith LLP appears in both the private funds and M&A chapters, and is a "highly proficient and effective operator". He is particularly well known for his work on behalf of Emirates Telecommunications Corporation (Etisalat), which he advised on its US$2.9 billion acquisition of Egypt's third mobile operator licence as well as on the acquisition of a 26 per cent stake with management control of Pakistan Telecommunication Company Limited in a privatisation by the government of Pakistan.
Randel Young of Fulbright & Jaworski LLP is another to feature in more than one chapter, with appearances in the project finance, and oil and gas chapters in addition to his inclusion as a leading M&A practitioner. An "acknowledged energy expert", he was picked out for the breadth of his international experience in particular.
Campbell Steedman is the international managing partner and head of the corporate finance practice in the Middle East for Norton Rose LLP. He received high levels of praise from our sources: "He is an excellent adviser on multi-jurisdiction transactions, particularly in emerging markets", said one; "his pragmatism and ability to identify and focus on commercially important issues, and find solutions for them, drives both process efficiency and value for money."
Nick Bryans is managing partner at Ashurst Dubai and a "very fine lawyer". He led the team that advised Dubai International Capital LLC on the €850 million acquisition of the packaging manufacturer Mauser from One Equity Partner in 2007, and is well known for his counsel to corporates and private equity houses.
Imtiaz Shah at Lovells has an "impressive track record" and recently advised ABN AMRO Merchant Banking on a major investment into a telecommunications company in the UAE, while Arash Amai of Reed Smith in Abu Dhabi is "outstanding for outward investment work". He is particularly well known for his representation of government entities, as well as private and public companies. He represented the government of Abu Dhabi in privatisation of the solid waste sector, including municipal solid waste and bio-hazardous waste, and has also represented a listed Abu Dhabi energy company in relation to the acquisition of LNG facilities in the Netherlands, Wales, US, Canada, France, Indonesia and Pakistan with a deal value of €2 billion.
Sadiq Jafar of Hadef Legal Consultants & Advocates completes this analysis of the leading players, and is "very well known in the market". Managing partner of the firm's Dubai office, he was commended for his inward investment, joint venture and M&A work in the energy, infrastructure and contracting sectors.