Freshfields Bruckhaus Deringer has advised Abu Dhabi Commercial Bank (ADCB) on its acquisition of the Royal Bank of Scotland's (RBS) retailing business in the United Arab Emirates (UAE), marking the first purchase of its kind by a UAE bank.

The deal, which is valued at around $100m (£67.5m), is subject to UAE Central Bank approval.

The Freshfields team, which included lawyers from the firm's Abu Dhabi, Dubai and London offices, was led by corporate partner David Higgins, the former head of the firm's Middle East and North Africa corporate practice,

Higgins worked alongside corporate associates Simon Price and James Kachel, IP/IT senior associate Bryony Evans and associate Matthew Shade.

Higgins said: "This was a very complex transaction and an important one for ADCB in order for them to grow their business in the UAE. We are delighted to be involved in such a historical cross-border transaction and a first-of-its-kind deal in the UAE."

ADCB general counsel Simon Copleston and legal counsel Olivia Birchall and Nabil Azar also acted on the deal.

Meanwhile Linklaters advised RBS with a team led by Dubai corporate partner Nick Garland, alongside counsel Hardeep Plahe and managing associate James Wootton.

Arup Mukhopadhyay, head of consumer banking at ADCB, said: "The RBS retail business in the UAE is an ideal strategic fit for the consumer banking business of

ADCB, which has witnessed dramatic growth over the last five years and remained resilient through the economic downturn."

The sale will grow ADCB's customer base by 250,000 along with 51 new ATMs, three new branches and two customer service centres.

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