Meysan Partners advised National Real Estate Company Co (“NREC”), a publicly listed real estate and investment company based in Kuwait, as sole legal advisor on the sale of its entire participation in its Erbil-based subsidiary, KREDCO Real Estate Company (“KREDCO”).
The participation, representing 51% of KREDCO’s share capital, was sold to the Kurdistan Development Corporation Limited (KDC). The deal was made under the authority of the Investment Board in Kurdistan granting the prerequisite approvals to the transaction. The transaction was completed on 22 December 2021.
Faisal Sultan, Vice Chairman and CEO of NREC, commented: “Selling our investment in Erbil was a strategic decision and had various complex elements that required a specialized law firm. Fortunately, our legal advisors Meysan Partners leveraged their expertise with unwavering support. Their team provided us with robust, highly technical advice in a commercially sound manner, making the process run smoothly from the beginning till the end.”
“We are very pleased to have been able to assist our client NREC in this deal. The Middle East real estate sector is an exciting and challenging space, especially at the current time. It takes an exceptional level of teamwork to execute transactions, and we are honored to have been a part of that team” commented Bader El-Jeaan, the co-founder and senior Partner of Meysan Partners.
Established in Kuwait in 1973, NREC is a publicly listed real estate and investment company with a presence in the Middle East and North Africa. NREC has grown into one of the largest real estate companies in the GCC, with assets exceeding KD700 million (US$ 2.3 billion).
Meysan Partners team was led by the senior partner Bader El Jeaan with support from Senior Associate Patrick Obeid.
Meysan announces the launch of its London office
We are proud to announce the launch of our new office in London. Meysan London will focus on heavyweight commercial and investor-state disputes, with a mission to apply the firm’s international litigation and arbitration know-how to the most complex cross-border cases. It will also serve the interests of corporates, investors, funds, state-owned entities and high-net-worth individuals, all looking to achieve positive results with a trusted partner.
MEYSAN WINS IFLR MIDDLE EAST AWARDS
International Financial Law Review (IFLR) bestowed dual honors on law firm Meysan Partners at its annual IFLR Middle East Awards for 2022, presented in Dubai on October 12.,,..... Read More
MEYSAN PARTNERS ADVISES ON AGILITY’S ACQUISITION OF MENZIES AVIATION
We are pleased to announce that Meysan Partners represented Agility, the sole shareholder of National Aviation Services (“NAS”), on the acquisition of UK-based John Menzies PLC,,..... Read More
MEYSAN PARTNERS ADVISES AL BAYAN MEDICAL COMPANY ON THE ACQUISITION OF A MAJORITY STAKE IN SKY DENTAL
Meysan Partners advised Al Bayan Medical Company K.S.C.C. (“Bayan Dental”) (Closed) in connection with its acquisition of a majority stake in Sky,..... Read More
ABDULLA AL NAJJAR ADVOCATES AND LEGAL CONSULTANTS JOINS MEYSAN PARTNERS
We are excited to announce that Abdulla Al Najjar Advocates and Legal Consultants, a Dubai-based highly regarded and reputable law firm,..... Read More
For press or media related enquiries, please contact:
media@meysan.com.
Meysan Partners regularly produces e-updates on legal developments which might impact your organisation. For more information or to subscribe, please email news@meysan.com.
Enter your details and set your subscription references: