Al Sarraf & Al Ruwayeh acted as transaction counsel in the sale of a controlling stake in Jassim Transport & Stevedoring Company (“JTC” or “the Company”) by Al Masar United Company W.L.L. (a member of the Boodai Group of Companies) to the Private Equity Funds Group (“Global Private Equity Funds Group”) of Global Investment House (“Global”). 

Established in 1979, JTC is one of Kuwait’s oldest and most prominent businesses and is one of Kuwait’s largest integrated logistics companies offering end-to-end business solutions including cargo and container stevedoring, warehousing, heavy lifting, transportation and equipment leasing. 

The Company holds the leading share of the commercial stevedoring business in Shuwaikh Port, Kuwait’s main commercial port.  JTC also manages the largest fuel distribution operation in the Middle East, operating close to 1,000 fuel tankers to customers including Kuwait National Petroleum Company and the US Military. In addition, the company currently operates one of the largest diversified equipment rental businesses in the Gulf region, with a fleet in excess of 1,000 equipments in Kuwait, Iraq, and Qatar including cranes, forklifts, compressors, and generators to customers covering Kuwait Petroleum Company, Qatar Petroleum Company, Hyundai Heavy Engineering, and SK Engineering.