Legal Advisors, Abdulaziz Alajlan & Partners advised Mohamed Yousuf Naghi Motors Company Ltd in relation to the acquisition of all assets from Al Jazirah Vehicles Agencies Company (AJVA) in connection with the Ford and Lincoln distributorship in the western and southern regions of Saudi Arabia; and the negotiation and execution of the distribution arrangements with Ford and Lincoln.
On 2 July 2019 the United Arab Emirates (UAE) Cabinet announced the relaxation of foreign ownership restrictions for 122 business activities specifically in the manufacturing, agricultural and services categories. This follows the issuance of the new Foreign Direct Investment (FDI) Law in September 2018 to open up the UAE mainland market to foreign investors.
Legal Advisors, Abdulaziz Alajlan & Partners alongside Baker McKenzie, London have advised Saudi shopping mall giant Arabian Centres Company on its $748 million IPO, with an implied market capitalization of $3.3 billion, making it the Kingdom of Saudi Arabia’s largest IPO in four years. The deal, which was announced in April, closed on 20 May 2019.
Leading international law firm Baker McKenzie has been voted “Financial Services M&A Legal Adviser of the Year” and “Consumer M&A Legal Adviser of the Year” at Mergermarket‘s Middle East and North Africa (MENA) M&A Awards 2019 in Dubai on 10 April 2019.
Recently, Egypt has adopted two new laws on cyber crime and consumer protection which can be seen as the first attempt by Egypt to regulate data privacy and security. Specifically, the Law No. 175/2018 on Combating Information Technology Crimes and Law No. 181/2018 on Consumer Protection were adopted.