Meysan has successfully advised the shareholders of Upayments Electronic Payment and Settlement Systems KSCC, a leading fintech solutions provider, on their partial exit through the sale of a 51% stake in the company to the National Bank of Kuwait (NBK).
Upayments, founded in 2016, is a prominent provider of online payment solutions, revolutionizing business financial transactions with cutting-edge digital payment services tailored to businesses and entrepreneurs. This strategic transaction further solidifies Upayments’ position as a key innovator in the fintech industry and marks an important milestone in its growth journey.
The transaction involved navigating multiple regulatory approvals in Kuwait, including clearances from the Central Bank of Kuwait, and the Competition Protection Authority.
Meysan’s team played a pivotal role in ensuring the transaction’s success. This included reviewing and negotiating key transaction documents, as well as drafting operational agreements for the company’s post-completion phase. The team maintained constant coordination between all contracting parties and engaged with regulatory authorities to guarantee compliance with legal requirements and deadlines.
The Meysan team advising on this landmark transaction was led by Partner Dr. Abdulwahab Sadeq and Counsel Neyla Rahal, demonstrating Meysan’s commitment to providing exceptional legal counsel in high-stakes transactions.
This deal represents another significant achievement in Meysan’s ongoing efforts to support the region’s most dynamic and innovative companies in realizing their strategic objectives.
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