A notable public to private transition in Bahrain’s capital market

ASAR Bahrain served as sole legal advisor on the voluntary conditional exit offer for Nass Corporation B.S.C., led by A A N S D Company W.L.L., resulting in the company’s delisting from the Bahrain Bourse and its conversion into a closed shareholding company.

Our involvement began at the structuring stage, advising the consortium on the formation of the acquisition vehicle and the applicable takeover framework under the Central Bank of Bahrain Rulebook (TMA Module). The team then advised throughout the transaction, including preparation of the offer documentation and board circular, coordination with regulators and market authorities, and implementation of the offer through to completion and corporate conversion.

The matter was led by Simone Del Nevo (Partner), with support from Rahul Sud (Senior Associate) and Ahmed Al Saeed (Associate).

Public-to-private transactions of this nature remain relatively uncommon in Bahrain, and our end-to-end advisory helped the consortium navigate all legal thresholds, streamline Nass Corporation’s corporate structure, and achieve its long-term strategic objectives.