Steven is a partner based in Bahrain and manages the Bahrain office of ASAR. Steven has been with the firm since 2010. Steven has extensive experience in the areas of mergers and acquisitions, banking and finance (secured finance focus), corporate law, regulatory law and employment law.
Steven has assisted in establishing, restructuring and liquidating regulated financial and other entities in Bahrain as well as supporting on construction, agency/distribution, property and trust documentation. Steven also advises and provides strategic assistance on commercial litigation and arbitration matters.
Ithmaar Bank Restructuring
2016. Steven was the responsible attorney at ASAR in respect of the restructuring of Ithmaar Bank, which involved the de-merger of its banking and investment businesses and converting the publicly listed parent company into Ithmaar Holding Company as the first CBB licensed financial holding company.
Eskan Bank Realty Income Trust
2016/2017. Steven led the ASAR team in the creation and registration of the Eskan Bank Realty Income Trust, the first listed, retail real estate investment trust in the Kingdom of Bahrain. ASAR drafted a bespoke trust instrument to comply with Bahrain trust legislation and assisted in procuring regulatory approvals.
British School of Bahrain Acquisition
2017/2018. Steven assisted as purchaser’s local counsel in the acquisition of the British School of Bahrain, a K-12 private educational institution, from GFH Financial Group. The project included negotiation assistance, regulatory advising and assisting with closing, which occurred in Q1 2018.
Al Dur 2 IWPP
2018/2019. Steven assisted as local counsel to the consortium composed of ACWA Power, Mitsui and Co. and Almoayed Contracting as shareholders of Haya Power and Desalination Company BSC (Closed) in relation to the financing and construction of an Independent Water and Power Plant at Al Dur, Bahrain. This 1500MW project includes government supply and power purchase agreements, a governmental guarantee, EPC and O&M contracts and a full portfolio of security plus financier step-in rights backing this billion-dollar natural gas facility.