David Foster

Energy and infrastructure

• An international energy investment company on its acquisition of a minority stake in the Southern Gas Corridor.
• L'imad Rail and Etihad Rail on the establishment of the Jordanian Emirati Rail Company, a joint venture with strategic Jordanian investors to develop a national freight rail network in Jordan.
• A publicly traded energy technology company on the sale of its minority stake in the Hamriyah IPP in Sharjah to Etihad WE.
• A multinational utility company on the divestment of its power generation and water desalination assets in Bahrain and Kuwait to ACWA Power.
• A financial investor on a USD5bn investment in three of DP World’s flagship UAE assets.
• Mubadala on the sale of stakes in Abu Dhabi Future Energy Company (Masdar) to Abu Dhabi National Energy Company (TAQA) and Abu Dhabi National Oil Company (ADNOC).
• IHS on the sale of a majority stake in its Kuwait telecom towers business to Zain.
• AES Corporation and IDB Infrastructure Fund on the competitive sales processes for the disposal of three Middle East power generation businesses to three separate buyers.

Social infrastructure

• Gulf Capital on the sale of ART Fertility Clinics in the Middle East to IVI-RMA Global (the world’s largest assisted reproduction group and a KKR portfolio company).
• A consortium led by Investcorp on the sale of Reem Hospital Group, a leading Abu Dhabi-based multi-specialty and post-acute rehabilitation healthcare provider, to Arada.
• GEMS Education on an investment into GEMS by a consortium led by Brookfield Asset Management.
• A consortium led by Fajr Capital on the acquisition of a 65% stake in Aster Healthcare’s GCC business.
• GEMS Education and the Varkey Group on the sale of a minority stake in GEMS MENASA to CVC Capital Partners (one of the largest ever private equity transactions in the Middle East).
• Gulf Capital on its acquisition of IVI Fertility Clinic LLC and its subsidiaries, a group specializing in assisted reproduction and ancillary services.

Technology

• Infinigate Group, a pan-European value-added distributor of cybersecurity solutions and a portfolio company of Bridgepoint, on its merger with StarLink.
• Investcorp as lead investor in the USD100m pre-IPO round of TruKKer, the largest digital freight network in the MENA region.
• Prosus, one of the world’s largest technology investors, as lead investor in a USD170m Series C fundraising by Foodics.
• Checkout.com on its investment in BNPL provider Tamara (one of the largest funding rounds ever raised by a fintech in the MENA region).
• OLX Group on the merger of its businesses in the UAE, Egypt, Pakistan and Lebanon with Emerging Markets Property Group, creating a combined group with a value of USD1bn.
• Rubicon Technology Partners and Cin7 Americas, Inc. on the acquisition by Cin7 Americas, Inc. of the business and assets of the DEAR Group.
• Souq Group and its shareholders on the sale of Souq (owner and operator of souq.com) to a multinational technology company (one of the largest technology-related M&A transactions in the Arab world).
• dnata (part of the Emirates Group) on the sale of its mercator business division to Warburg Pincus.

Other notable transactions

• CYVN Holdings, an advanced mobility operator and investment vehicle based in Abu Dhabi, on a strategic partnership with Mumtalakat under which CYVN acquired McLaren’s automotive business and a non-controlling stake in McLaren’s racing business.
• Thuraya Telecommunications Company and its majority shareholders on the sale of a majority stake in Thuraya to Al Yah Satellite Communications Company (Yahsat).
• Aldar Properties on its USD4.5bn merger with Sorouh Real Estate (the first public company merger implemented under the universal succession provisions of the UAE Companies Law).