GLA & Company has successfully secured merger control clearance from the Kuwait Competition Protection Agency (“CPA”) on behalf of Kuwait Finance House Capital, representing First Private Equity General Trading Company (the “Buyer”), in relation to its strategic acquisition of a 65.7% stake in Taly Holding Ltd (the “Target”) resulting in a total investment of KWD 1,000,000. This milestone clearance allows the Buyer to move forward with the transaction, which marks a significant step in the Buyer’s expansion within the digital financial services sector in the GCC.

The Target, a special purpose vehicle incorporated in the Abu Dhabi Global Market, holds ownership of operating subsidiaries in Kuwait that are recognized as major electronic money service providers in the region.

Alex Saleh, Managing Partner at GLA & Co, commented, “We are pleased to have obtained merger control clearance for this transaction, further cementing our position as market leaders in competition and regulatory work in Kuwait. This transaction highlights our team’s skill in delivering commercially sound legal solutions to clients operating across borders and sectors.”

GLA & Co’s Antitrust & Competition team, led by Asad Ahmad, Head of Antitrust & Competition, alongside associate Khaled Al Makhezeem and Trainee Lawyer, Liana Rashid, played an instrumental role in securing regulatory approval. The team engaged in detailed consultations with the CPA, conducted comprehensive economic assessments of the transaction’s impact on relevant markets, and addressed key regulatory concerns through a robust and well-documented merger notification process.

The merger control clearance underscores the firm’s capabilities in handling complex cross-border transactions and navigating Kuwait’s competition law framework. GLA & Co’s team submitted an in-depth economic report highlighting the transaction’s neutral to positive effect on competition and demonstrating the lack of substantive market concerns.

For more information, please contact Alex Saleh, Managing Partner, or Asad Ahmad, Head of Antitrust & Competition.