News 06 Dec. 2022

Curtis Dubai advises Al Eskan Al Jamae LLC on approximately US$2.2 billion transaction, announced today on Abu Dhabi Securities Exchange

Curtis has advised the real estate development and management company, Al Eskan Al Jamae LLC on the approximately AED8 billion (approximately US$2.2 billion) consolidation of its and Abu Dhabi Ports’ workers accommodation businesses.

The consolidation will be effected by way of a share swap, based on reasonable estimates of the financial position at closing prior to closing, and adjusted by way of a further share swap based on actuals as at closing. The transaction is subject to customary regulatory approvals and the satisfaction of customary closing conditions.

The transaction documents were signed on December 5, 2022 and the announcement was made today by ADP on the Abu Dhabi Securities Exchange.

The deal team comprised Dubai based partner Jeremy Miocevic and senior associate Philippe Habib.

For more details, please contact Jeremy Miocevic.