20 February 2024, Kuwait City, Kuwait – Meysan Partners played a key role in advising UPayments, a prominent online payment solution provider, on the sale of a 51% stake to the National Bank of Kuwait (“NBK”).
This strategic transaction underscores UPayments’ remarkable success in the burgeoning Fintech industry, where they have been instrumental in providing businesses across the GCC with smart, innovative, and hassle-free electronic payment solutions to streamline their collection processes.
Dr. Abdulwahab Sadeq, partner at Meysan, expressed the firm’s satisfaction with the deal, stating, “we are thrilled to have had the chance to support UPayments, the founding partners, and its shareholders through this milestone transaction. Our involvement in the Fintech sector not only highlights the growth of this market in Kuwait but emphasizes its broader impact across the MENA region as well.”
Dr. Sadeq, also added that, “in advising the sellers throughout this transaction, we encountered numerous objections filed by competitors with the Competition Protection Authority (the “CPA”). Our team meticulously addressed each of these challenges, convincingly demonstrating to the CPA the lack of merit in these objections. A great achievement was realized last week when we secured the CPA’s approval, despite the transaction’s completion still pending the Central Bank of Kuwait’s approval. Our regulatory team at Meysan was instrumental in this process, collaborating closely with the CPA to navigate through the difficulties presented by the unfounded claims of third parties, effectively nullifying their arguments.”
Founded in 2016, UPayments has been at the forefront of simplifying business financial transactions with their suite of digital payment services. Targeting businesses and entrepreneurs, UPayments offers flexible, tailored payment solutions that meet their unique demands, complementing businesses of various sizes and natures.
Meysan team was led by corporate partners Dr. Abdulwahab Sadeq and Michel G. Ghanem, and supported by counsel Neyla Rahal. Their expertise and understanding of the sector were key to the successful execution of this transaction, adding yet another significant deal to Meysan’s growing portfolio in the Fintech space.
Meysan is pleased to announce that it has acted as legal counsel to Dawi, a leading digital healthcare platform, in its latest investment round, which included a significant strategic investment by Aayan Investment Company. As part of this transaction, Aayan acquired a 30% equity stake in Dawi, marking a pivotal… Read more
Meysan’s legal team, led by Partner Waleed Al-Tattan and Senior Counsel Tarek Diab, achieved a significant court victory on behalf of one of Saudi Arabia’s largest banks. The team successfully obtained two rulings from the Kuwaiti courts enforcing execution orders issued by a Saudi enforcement judge against two Kuwaiti guarantors, with a combined value… Read more
In one of the most high-profile and complex commercial agency disputes in Kuwait’s legal history, a Kuwaiti company filed multiple lawsuits against one of the world’s largest European automotive manufacturers, seeking KWD 320 million (approx. USD 1.04 billion) in damages. The dispute centered around the termination of an exclusive distribution… Read more
The Kuwait Constitutional Court issued another significant ruling on 25 June 2025 (the "June Ruling") which was published in the Official Gazette on 20 July 2025, declaring that Article 34(5) of the Competition Protection Agency Law No. 72 of 2020 (the “CPA Law”) is unconstitutional. This ruling highlights ongoing constitutional… Read more
In a landmark judgment issued last week, the DIFC Court of Appeal has upheld a USD 1.6 billion ICC arbitration award in favour of Meysan client Iraq Telecom Ltd, bringing to an end the largest set-aside application in the history of the DIFC Courts. The ruling confirms that the award… Read more
KUWAIT CITY, June 15,2025 - Meysan Partners successfully advised the Joint Lead Managers as Kuwait counsel on Boubyan Bank's US$500 million senior unsecured Sukuk issuance under its US$3 billion Trust Certificate Issuance Programme. Transaction Overview: The transaction marks Boubyan bank’s return to the debt market after 3 years • 4.2… Read more