Leading global law firm Baker McKenzie Habib Al Mulla has advised Mizzen, a wholly owned subsidiary of Seddiqi Holding, on its joint venture with Gentle Monster, the South Korean curated eyewear brand, and the launch of its flagship store in the Middle East.
Leading global law firm Baker McKenzie Habib Al Mulla has advised Zenath Trading Enterprises LLC, the principal shareholder of Zenath Recycling & Waste Management LLC (Zenath Recycling), on the sale of Zenath Recycling to Averda, the leading integrated waste management services provider in the Middle East and Africa.
The UAE Federal Tax Authority (FTA) has published Public Clarification VATP015 on the key considerations for a transaction to qualify as a transfer of business in the UAE. As a transfer of business is outside the scope of VAT, qualified transactions will have implications for both the seller and the buyer.
Global M&A activity saw fewer but higher value transactions in the first half of 2019 (H1 2019), with total deal values increasing by 19% from the previous half year, while deal volumes fell by 12%. The trend was reflected in the Middle East, with total M&A deal values increasing fourfold from the last half of 2018, despite a slight dip in volumes, according to the latest report by global law firm Baker McKenzie*.
Based on a survey of more than 300 corporate leaders and legal advisers who handle transactions, along with insight from Baker McKenzie compliance, antitrust and corporate partners, the latest Baker McKenzie report assesses the challenges and risks that regional and multinational organizations face in relation to compliance due diligence (CDD) across both M&A and JVs.