National Consumer Holding company (NCHC), a leading industrial investment company based out of Kuwait, has entered into a binding agreement to acquire Cozmo Entertainment General Trading (Cozmo).

Meysan Partners, a leading corporate law firm in Kuwait, played a major role in helping NCHC sign binding documentation for the acquisition of 100 per cent of the share capital of Cozmo.

With a network of more than seven outlets, Cozmo is one of the largest operators of entertainment chains in Kuwait. The transaction remains subject to receipt of regulatory approvals and satisfaction of customary closing conditions and is expected to close later this year.

Meysan’s team comprised Michel G. Ghanem, partner, besides Salwa Abdallah, senior associate, and Rosy Rizk, trainee associate.

With dedicated offices in Kuwait, the UAE, Saudi Arabia, Egypt, and Lebanon, Meysan Partners provides clients across an extensive range of industry sectors with comprehensive legal advice and support for their business activities across the Middle East and beyond.

An Eye on Egypt – New Merger Control Regime Finally in Place
An Eye on Egypt – New Merger Control Regime Finally in Place

After much anticipation, Egypt’s Prime Minister issued Decree No. 1120 of 2024 (Decree) revealing the long-awaited amendments to the Competition Act’ executive regulations (Regulations). By way of background, in December 2022, the Egyptian Competition Act underwent a major overhaul with the introduction of a pre-merger control regime that grants the… Read more

Economic Liberalization in Kuwait: Welcome, Foreign Investors
Economic Liberalization in Kuwait: Welco...

The business and economic landscape of Kuwait just changed. With the ratification of the first law of 2024: Law Regarding the Amendment of Article 24 of the Commercial Law and Article 31 of the Public Tenders Law (1/2024) (the “Foreign Company Amendments Law”) on 21 January 2024, foreign companies now… Read more

New premium residencies in the Kingdom of Saudi Arabia
New premium residencies in the Kingdom o...

The Kingdom of Saudi Arabia has introduced a series of groundbreaking premium residency options. Dr. Majid bin Abdullah Alkassabi, Chairman of the Premium Residency Center announced five distinctive categories—special talent, gifted, investor, entrepreneur, and real estate owner residencies. This strategic move, harmonizing with Vision 2030's objectives, positions Saudi Arabia as… Read more

The Egyptian Competition Authority Sharpens its Teeth in Light of Government Strategy
The Egyptian Competition Authority Sharp...

The Egyptian Competition Authority (the “ECA”) has traditionally been known for its aggressive stance towards historically tolerated anti- competitive acts. To live up to its slogan, “a stronger economy…for a better life”, it recently began shifting its focus to awareness-raising (in parallel with enforcement), a much-needed step in a market… Read more

Kuwait’s Economic Liberalization Measures
Kuwait’s Economic Liberalization Measu...

Recently, Kuwait has initiated some significant economic liberalization initiatives. Kuwait’s National Assembly enacted major reforms to the Commercial Law and Public Tenders Law, effectively removing the longstanding requirement for foreign companies to operate through local agents within the country. On July 16, 2023, the Financial and Economic Affairs Committee of… Read more

Introducing the 30-year Tax Relief Attracting Foreign Companies into the Kingdom of Saudi Arabia
Introducing the 30-year Tax Relief Attra...

On 5 December 2023, the Ministry of Investment of Saudi Arabia (“MISA”), in collaboration with the Ministry of Finance and the Zakat, Tax and Customs Authority (“ZATCA”), officially announced a 30-year tax relief program as an incentive to attract foreign global companies to establish their regional headquarters (“RHQ”) in the… Read more