Saudi Arabia - Leading international law firm Clifford Chance said it has played a major advisory role for Tawal (a subsidiary of Saudi telecommunication company (stc)) to help acquire a shari‘a-compliant term loan and bridge finance facilities worth $1.42 billion for supporting its expansion into three strategic jurisdictions in Southeast Europe.

One of the world's pre-eminent law firms with significant depth and range of resources across five continents, Clifford Chance is a single, fully integrated, global partnership that boasts an approachable, collegiate and team-based way of working.

According to Clifford Chance, this funding, to be provided by a club of UAE and Non-UAE based Islamic financial institutions, will be used to acquire three prime telecommunications tower asset companies in Bulgaria, Slovenia and Croatia from the United Group.

The Clifford Chance team was led by Partner and Global Head of Islamic Finance Qudeer Latif with support from senior associate Greg Jehle, as well as senior associate Suzanne Dand and trainee solicitor Meave Chapman.

Partner Qudeer Latif said: "We are delighted to have advised Tawal on its first acquisition financing. This Shari‘a-compliant financing will support Tawal's strategic expansion."

"Consistently ranked Band 1 in legal directories, Clifford Chance was named Banking Legal Adviser of the Year at the Bonds, Loans & Sukuk Middle East Awards 2022, International Law Firm of the Year (Middle East) at the Middle East Legal Awards 2023 and Middle East International Law Firm of the Year at the Chambers Middle East Awards 2021," he added. 

Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).