Jadwa’s Acquisition of a Stake in Gissah for Perfumes ASAR – Al Ruwayeh & Partners advised Jadwa Investment Company, while GLA & Company acted as exclusive legal counsel for sellers Bait Al Aseel and Bashar Al Ameer. AS&H Clifford Chance acted as the lead international counsel to Jadwa. The transaction sees Jadwa acquire a 35% stake in Gissah for Perfumes, Teeb and Oud Company, a major player in the Middle East region’s perfume market. ASAR advised Jadwa on the transaction documents, due diligence, disclosure and Kuwaiti regulatory matters with a team led by corporate and commercial law partner Luis Cunha and including senior associate Nader Abdelaziz and associate Mustafa Sayed. GLA & Company exclusively advised sellers Bait Al Aseel and Bashar Al Ameer in the successful sale of a 35% stake in Gissah Perfumes Company ahead of the fragrance company’s highly anticipated initial public offering (IPO). Gissah, initially established in Kuwait, is strategically relocating its operations to Saudi Arabia in preparation for its IPO on the kingdom’s primary market. Saudi private equity firm Jadwa Investment, guided by Clifford Chance and ASAR, emerged as the acquirer of this significant stake. GLA & Company played a pivotal role in overseeing every aspect of the transaction, including the negotiation and finalisation of the share purchase agreements, shareholders’ arrangements and the seamless closing of the deal. In addition to negotiation and closing, GLA & Company successfully managed to secure merger control clearance from the Kuwait Competition Protection Agency, an essential regulatory step towards the deal’s conclusion. GLA & Co advised the sellers on the transaction documents, due diligence, disclosure, merger control filing, regulatory matters and closing with a team led by managing partner Alex Saleh and partner Yousef Al Amly as well as legal director Maha El Meihy, senior associate Asad Ahmad and associates Salma Farouq, Fahad Albaijan and Jehan Saleh. ABOUT THE DEAL 74 LAWYER MONTHLY NOVEMBER 2023
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