White & Case and Meysan have jointly advised the subsidiary of multi-business operator Agility on its US$4.5 billion listing on the Abu Dhabi Securities Exchange (ADX).
Agility is a publicly listed company in Dubai and Kuwait. The law firms co-counseled its subsidiary, Agility Global PLC, on its listing on the main market of ADX, one of the fastest growing stock exchanges in the world.
The transaction involved the segregation and restructuring of Agility’s assets into Agility Global, followed by a technical listing of the subsidiary on the ADX and a simultaneous in-kind distribution of 49% of the total shares to the shareholders of Agility, according to a statement.
Agility Global’s assets include Menzies Aviation, Tristar, and Agility Logistics Parks.
The White & Case team was led by Abdulwahid Alulama and Roger Gaspard in Dubai, and Laura Sizemore and Di Yu in London.
Meanwhile, the Meysan team comprised partners Bader El-Jeaan and Tarek Yehya.
El-Jeaan said: “We are delighted to have assisted Agility—Meysan’s very first client since our establishment in 2015—on this prestigious and highly significant listing on the Abu Dhabi Stock Exchange.”
“This transaction represents a key milestone in Agility’s journey towards ongoing growth and realisation of its strategic goals,” he said. “We are pleased at the pace at which this transaction proceeded and the role we played, alongside other stakeholders, including fellow co-counsel, White & Case LLP, with whom we have a long-standing relationship, in making this listing a success.”
Last month it was reported that White & Case, alongside Ibrahim & Partners and Linklaters, had advised parties on the IPO of Spinneys on the Dubai Financial Market (DFM).
