The firm advises Limak Insaat on its syndicated facilities from National Bank of Kuwait and Kuwait Finance House for the construction of the new passenger terminal at Kuwait International Airport
Kuwait – March 2018: ASAR – Al Ruwayeh & Partners (ASAR), Kuwait’s leading and most prominent corporate law firm, and one of the region’s top tier firms, acted as Kuwait legal counsel to Limak İnşaat Sanayi Ve Ticaret A.Ş (Limak) on syndicated facilities from the National Bank of Kuwait and the Kuwait Finance House. The company was recently awarded the reported US$ 4.3 Billion contract by the Ministry of Public Works to construct the new state of the art passenger terminal at the Kuwait International Airport. The new terminal is expected to increase passenger capacity up to fifty million annual passengers upon its completion.
The team at ASAR was led by Rob Little, Ahmed Zakaria and Ezekiel Tuma. The team also included Mohamed Abulwafa, Brenda Ntambirweki and Abdelkhalig Shaib.
Commenting on the transaction, Mr. Rob Little, Counsel at ASAR said: “We are very pleased to have been part of Limak’s legal team on this transaction. We believe that transactions of this nature are fundamental to growing Kuwait’s economy particularly given the involvement of local banks and the benefits to be derived from this significant infrastructure development. ASAR has a long established history of acting in corporate finance transactions, and this current transaction is no exception.”
Mr. Ahmed Zakaria, Partner at ASAR said: “A transaction of this magnitude underlies the interest of major economic players in the construction sector in Kuwait and its development. We are privileged to have worked with and represented Limak in this high profile transaction and we appreciate the confidence and trust that Limak put in our firm. We look forward to continuing to assist our clients in reaching their business and strategic objectives.”
Mr. Ezekiel Tuma, Partner at ASAR said: “This transaction is a testament to the strength and depth of the local banking sector and underlines the key role local banks have to play in achieving Kuwait’s development goals. We are delighted to have advised Limak as Kuwait legal counsel on this important transaction, and our involvement is further testimony of our firm’s impressive credentials and our ability to advise on cutting edge transactions.”
With dedicated offices in Kuwait and Bahrain coupled with its associated offices and relationships, ASAR operates across an extensive list of practices that include banking and finance, capital markets, mergers and acquisitions, privatizations, corporate and commercial transactions, energy, real estate, restructuring, private equity, shipping, employment, environment, franchising, insurance, agencies and distributorships, construction, government projects, intellectual property, securities, taxation, commercial litigation and arbitration.
The firm has been consistently rated as the leading corporate and commercial law firm in Kuwait by reputable legal guides such as the Chambers Global Guide, International Financial Law Review (IFLR) and the Legal 500.
In 2017, ASAR was awarded with the “IFLR National Law Firm of the Year Award”; an award which ASAR has been delighted to receive for the 9th consecutive year. Also in 2017, the firm won the “IFLR M&A Deal of the Year Award” and the “IFLR Restructuring Deal of the Year Award”.