ASAR is pleased to announce its role in the successful closing of a landmark fintech M&A transaction. We advised National Bank of Kuwait on its acquisition of a controlling stake in Upayments. Our team provided comprehensive legal counsel throughout the transaction, including on matters concerning, the drafting all transaction documentation, assisting with regulatory requirements such as for example, obtaining requisite merger control approvals, conducting due diligence, and managing and collecting all closing deliverables.

This complex transaction presented unique challenges, notably the restructuring of Upayments during the completion period to comply with directives and resolutions of the Central Bank of Kuwait. We also successfully defended National Bank of Kuwait before the Kuwait Competition Authority against objections filed by fintech competitors. The ASAR team was led by Rob Little, Head of Banking & Finance, Capital Markets and M&A, with key support from Associate Mustafa Sayed. 

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