Meysan advises agility on landmark USD 4.5 Billion Abu Dhabi securities exchange debut

Abu Dhabi — A team of lawyers from international law firm Meysan recently acted as legal advisor to Agility Public Warehousing Company KSCP (“Agility”) on the successful direct listing on the main market of the Abu Dhabi Securities Exchange (ADX) of shares in subsidiary, Agility Global PLC (“Agility Global”). 

Agility Global is a leading multi-business operator with an international footprint and operations in more than 70 countries and a key contributor to the economies in the countries in which it operates, providing essential services. The Group’s operations include: Menzies Holding Limited and its subsidiaries, the world’s largest aviation services provider by number of countries; Tristar Transport L.L.C., a market-leading liquid fuel logistics business predominantly operating in emerging markets; and Agility Logistics Parks, a logistics parks business that is a large private owner of logistics parks and warehousing in the Middle East, Asia, and Africa. Agility Global is also an investor in innovative and technology-enabled businesses with themes inclusive of sustainability and owns both listed and non-listed minority shareholdings in companies across a range of sectors and industries, such as freight forwarding, e-commerce, sustainable transport, and alternative energy, including its 9% interest in DSV A/S, a leading global logistics provider listed in Denmark.

In 2023, the Group generated total revenue of US$3,935.9 million and EBITDA of US$605.6 million.

The landmark transaction involved the segregation and restructuring of Agility’s strategic worldwide assets into Agility Global, followed by a technical listing of Agility Global on the ADX and a simultaneous in-kind distribution of 49% of the total shares in Agility Global to the shareholders of Agility.  

The size and growth of Agility Global make the Company’s listing among the recent major listings on the main market of the ADX.  

The Meysan team comprised partners Bader El-Jeaan and Tarek Yehya, senior counsels, Mohammed Abdulwahed and Omar Yousif, and counsel Lama Abou Ali.

El-Jeaan said: “We are delighted to have assisted Agility—Meysan’s very first client since our establishment in 2015—on this prestigious and highly significant listing on the Abu Dhabi Stock Exchange. This transaction represents a key milestone in Agility’s journey towards ongoing growth and realization of its strategic goals. We are pleased at the pace at which this transaction proceeded and the role we played, alongside other stakeholders, including fellow co-counsel, White & Case LLP, with whom we have a long-standing relationship, in making this listing a success.”

In his comment, Tarek Yehya said: “We are very happy with our work on this landmark transaction which is described by international practitioners as first of its kind, in what may be some of the most complex matters involving the structuring, assets restructuring, corporate and regulatory considerations, documentation and smooth implementation of a direct listing on ADX which is allocated only to Agility Kuwait’s shareholders”. 

The trading of Agility Global’s shares commenced on 2 May 2024. The listing will offer attractive trading liquidity and provide an opportunity for investors to be part of the company’s ongoing growth journey.