Ibrahim Sattout

Partner

Ibrahim is a Partner at ASAR and has been with the firm since October 2005. Prior to joining ASAR, Ibrahim worked as an associate at Raphaël and Associates (Beirut, Lebanon) between October 1993 and August 2000 and as international legal counsel at Gulf Bank KSCP (Kuwait) between October 2000 and September 2005. 

Ibrahim’s practice includes advising on complex and landmark transactions in Kuwait in the areas of banking and finance, capital markets, project finance and PPP projects, private equity, restructuring and bankruptcy, mergers and acquisitions, commercial and corporate law and international arbitration. Ibrahim has been recommended as a leading lawyer in Kuwait from Legal 500, Chambers and Partners and International Financial Law Review.

Ibrahim also regularly contributes and authors articles on Kuwaiti law matters in prestigious international legal publications. Ibrahim’s practice languages are English, French and Arabic.

Qualifications

Professional
Member of the Beirut Bar Association, 1994
Member of the American Bar Association and International Bar Association
Academic
Diplome d’Etudes Approfondies (LL.M) in Private International Law and International Trade Law, Paris 2 University (Assas Pantheon), Paris, France, 1993
Bachelor of Laws (LL.B) in French Law, Paris 2 University (Assas), Paris, France, 1991
Bachelor of Laws (LL.B) in Lebanese Law, St. Joseph University and Lebanese University, Beirut, Lebanon, 1990 and 1993

Experience highlights

Umm Al Hayman Wastewater Treatment Plant PPP Project

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Umm Al Hayman Wastewater Treatment Plant PPP Project

Following his previous role as Kuwaiti counsel leading the ASAR team that provided transaction advisory services to the government of Kuwait on the groundbreaking Az Zour North Phase 1 IWPP PPP Project, Ibrahim recently acted as Kuwaiti lead legal counsel to the consortium comprised of WTE Wassertechnik GmbH and International Financial Advisors Holding KSCP, who were awarded the Umm Al Hayman Wastewater Treatment Plant Project, one of the world’s largest and most complex water treatment projects with construction costs of approximately USD1.8-billion (excluding financing and operating costs), developed pursuant to Kuwait’s PPP Law under the auspices of the Kuwait Authority for Partnership Projects and the Ministry of Public Works. The project’s financial close occurred on 29 July 2020.

Privatization of Boursa Kuwait

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Privatization of Boursa Kuwait

Ibrahim acted as co-counsel (as part of the advisory team to the Kuwait Capital Markets Authority (CMA)) in relation to the landmark privatization of Boursa Kuwait, which culminated with the sale by the CMA of 44% of its shares held in the capital of Boursa Kuwait through a developed bidding process. This resulted in the winning bid being placed by the international consortium comprising the Athens Stock Exchange, National Investments Company, Al Oula Investment and Arzan Financial Group. The transaction closed in February 2019.

Kuwait Sovereign Bonds

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Kuwait Sovereign Bonds

Ibrahim acted as Kuwaiti law counsel to the State of Kuwait, acting through the Ministry of Finance and represented by the Kuwait Investment Authority, on the establishment of its Global Medium Term Note (GMTN) Programme and Kuwait’s inaugural dual-tranche, US dollar-denominated international debt capital markets issuance thereunder. The notes issued on 20 March 2017 for USD8-billion, were offered and sold in reliance on Rule 144A and Regulation S and were admitted to trading on the Irish Stock Exchange and the London Stock Exchange. 

Kuwait National Petroleum Company Clean Fuel Project

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Kuwait National Petroleum Company Clean Fuel Project

Ibrahim acted as lead Kuwaiti law counsel to the mandated lead arrangers, local and international financial institutions and export credit agencies in 2016 and 2017, in relation to KWD3.4-billion (USD11.35-billion) Islamic and conventional financing of Kuwait National Petroleum Company KSC (KNPC) clean fuel project, the largest project and the first financing in KNPC’s history. The project includes the upgrade and integration of the two largest existing refineries in the country, i.e., Mina Abdulla and Mina Al Ahmadi refineries. The project will increase the combined capacity of the refineries from the existing 736,000 barrels per day to 800,000 barrels per day, and will lower the sulphur content of petroleum products to 5%.