Meysan Partners, the Kuwait-based corporate law firm, has advised the shareholders of online food takeaway market leader Talabat.com on its acquisition for $170m by German e-commerce group, Rocket Internet AG. This is the first deal completed by Meysan Partners since the firm announced its launch last month in Kuwait, and represents one of the largest ever tech acquisitions in the MENA region.
Talabat operates in Kuwait, Saudi Arabia, United Arab Emirates ("UAE"), Bahrain, Oman and Qatar with particularly strong market positions in Kuwait, UAE and Saudi Arabia. It currently cooperates with more than 1,300 partner restaurants including major brands like Burger King, KFC, JonnyRocket, Hardees, TGI Fridays, Pizza Hut, PizzaExpress, PapaJohn and Subway.
With this transaction, Rocket Internet AG attains leading market positions in most of the key markets of the Middle East- countries characterized by the highest smartphone penetration in the world and large basket sizes offering a high potential for further growth.
Senior Partner, Abdul Aziz Al-Yaqout, said: "This is a significant deal for the tech industry in the region and especially Kuwait. It underlines the strength and attractiveness of ecommerce businesses in the Middle East. Furthermore, it proves that start-ups in the region can be very successful and have very lucrative exits. Meysan Partners is delighted to have advised on this important transaction."
Established by Senior Partners, Abdul Aziz Al-Yaqout and Bader El-Jeaan, earlier this year, Meysan Partners specializes in Bank Finance & Restructuring, Capital Markets, Mergers & Acquisitions, Project Development & Finance, and Dispute Resolution. Its client list to date already includes some of the largest regional blue-chip companies and family groups, multinational corporations, international financial institutions, sovereign governments and their agencies, domestic corporations and financial institutions, as well as high net worth individuals.
About Meysan Partners
Meysan Partners is a Kuwait-based corporate law firm offering high quality, innovative legal advice delivered by a team of highly-experienced Arabic and English speaking lawyers. This is underpinned by over 35 years of combined experience in the Middle East shared by its partners who, in recent years, have advised clients across a range of industry sectors on some of the most noteworthy and complex transactions in the region.
For further information, please visit www.meysan.com
Media Contacts
Karen Morrison, Head of PR, Meysan Partners
E: kmorrison@meysan.com
M: +971526565962
© Press Release 2015
