Meysan Partners advised Kuwait Telecommunications Company (“STC”) on the completion of the acquisition of the entire capital of E-Portal Holding Company (“E-Portal”) and its subsidiaries, one of the most prominent companies in telecommunications and Information Technology sectors in Kuwait.
Maziad Bin Nasser Al Harbi, the CEO of STC said: “This acquisition is a major step towards enhancing STC’s digital capabilities in telecom, information technology and IoT services, as well as electronic cloud services, ensuring high end business solutions to all types of organizations in Kuwait.”
“Expanding the scope of STC’s activities beyond traditional telecom services will increase the company’s market share within the telecommunications and information technology sectors. Through E-Portal’s expertise, we look forward to providing our corporate customers with the latest and most advanced services in the digital fields.” He added.
Faisal Mansour Sarkhou, CEO of KAMCO Invest, said: “We are pleased to advise STC on this successful acquisition, as this transaction demonstrates our capabilities to successfully manage and close mergers and acquisitions, starting with identifying and evaluating target companies and assisting in obtaining approvals from the regulatory and supervisory authorities, in line with the strategic objectives of our clients.” “Over the years, we have developed our expertise in mergers and acquisitions by advising on numerous deals with a total value of more than $5.9 billion, not only in Kuwait, but throughout the MENA region and across various sectors.” He added.
Our Partner, Tarek Yahya, commented: “We are pleased to advise STC on the completion of this remarkable transaction and working alongside a team that has extensive experience and clear objectives. Since the information technology sector is one of the most significant sectors that are witnessing growth locally and internationally, it was imperative that exceptional efforts be made as a team to complete this deal, that are in line with the highest professional standards”.
Meysan team was led by partners Tarek Yehya and Michel Ghanem with support from senior associate Lama Abou Ali and associate Ameena Al Mutawa and the wider Meysan Partners team.
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