Al Doseri Law Firm | View firm profile
In one of the GCC’s most prominent cross-border transactions this year, Al Doseri Law has advised UAE-based financial services institution, Al Ansari Financial Services (“AAFS”), on the large-scale 100% acquisition of Bahrain Financing Company Group (“BFC”), a leading money transfer and currency exchange corporation in the Kingdom of Bahrain.
Working in tandem with its joint venture partners and lead counsel for the transaction, GLA & Co., Al Doseri Law extended its legal services to advise on all Bahraini law related matters pertaining to the deal. The transaction, valued at $200 million USD, marks a significant step in AAFS’s strategic expansion across the GCC, where it is set to position itself as the largest provider of foreign exchange and remittance services within the region by branch network, with the combined entity anticipating a significant 60% increase on AAFs current branch network.
Headed by Founding Partner Saad Al Doseri, Al Doseri Law’s team comprised of Senior Associate Shooq Nimah, Associate Maryam Al Hashemi and Paralegals Diana Ahmad and Jodie Carter. The team leveraged their extensive legal experience and expertise in Bahraini corporate and financial law to provide precise and strategic legal counsel throughout the transaction to facilitate a smooth process.
Al Doseri Law will continue to play an ongoing role in the deal completion, assisting with obtaining the necessary regulatory approvals and finalizing the transaction in collaboration with partnering firm, GLA & Co.
Speaking on the acquisition, Founding Partner of Al Doseri Law, Saad Al Doseri, commented:
“Al Doseri Law is delighted to have advised on this major deal for AAFS and to be leveraging our partnership with GLA & Company to utilise our experience in financial services matters across the Gulf region…
“We are excited to continue strengthening our multi-jurisdictional offering for clients and advise and act on other high-value matters with our breadth of expertise.”
About us: Al Doseri Law
Al Doseri Law is a specialist banking and finance, litigation and dispute resolution, TMT and corporate Bahraini law firm led by founding partner, Saad Al Doseri. The firm comprises a team of accomplished and experienced lawyers who are highly regarded and recognised for their extensive legal expertise within the region, advising high profile local and international clients within the Kingdom of Bahrain.
For further information, please contact Founding Partner, Saad Al Doseri and see: Al Doseri Law Website, for all legal service inquiries.
This news was covered in Gulf Daily News on 12 August 2024.