April 29th, 2024 Announcements

GLA & Co celebrates the IFN Cross Border Deal of the Year Award 2023 for Gissah Perfumes Stake Sale to Jadwa

Last Thursday in Dubai, we celebrated a remarkable achievement at the IFN Awards as our Partner, Yousef Al Amly, accepted the Cross Border Deal of the Year Award 2023 on behalf of GLA & Co. We’re honored to have been recognized for our role as sole legal counsel in the sale of 35% stake in Gissah Perfumes Company to Jadwa. A testament to our dedication and expertise!

About the Award winning Deal

GLA & Company acted as sole legal counsel for Sellers Bait Al Aseel and Mr. Bashar Al Ameer in the sale of 35% of their stake in Gissah Perfumes Company ahead of the fragrance company’s planned initial public offering.  Gissah, founded in Kuwait, plans to relocate to Saudi Arabia ahead of an IPO on the kingdom’s main market. It currently operates from 80 stores in 25 cities across Saudi Arabia, Kuwait, the UAE and Bahrain.  The buyer of the stake was the Saudi private equity firm Jadwa Investment, which was led by the esteemed law firms of Clifford Chance and ASAR.

GLA led on all aspects of the transaction including the negotiation and conclusion of the share purchase agreements, shareholders arrangements and all closing aspects of the deal.  In addition, GLA secured Merger Control clearance from the Kuwait Competition Protection Agency needed to finalize the deal.  The transaction was able to highlight the strengths of GLA & Company’s regional expertise as both its Kuwait and Saudi offices were deeply involved in the Kuwait and Saudi aspects of the deal, which were substantial.

About IFN Awards

The Islamic Finance News Awards is one of the top entities in the Islamic Financial Industry, recognized worldwide in Global Islamic Capital Markets.

Read More About IFN –  IFN – Awards & Polls (islamicfinancenews.com)