Commercial Team of the Year: Al Tamimi & Company
Al Tamimi & Company secured the Commercial Team of the Year Award for its work advising Coca-Cola on its acquisition of a 50% stake in Saudi Arabian company Aujan Industries' beverage brands and a 49% stake in its bottling and distribution assets.
June 14, 2012 at 07:03 PM
2 minute read
Finalists 2012: Al Tamimi & Company; Galadari & Associates; Latham & Watkins; The Rights Lawyers
Al Tamimi & Company secured the Commercial Team of the Year Award for its work advising Coca-Cola on its acquisition of a 50% stake in Saudi Arabian company Aujan Industries' beverage brands and a 49% stake in its bottling and distribution assets.
The deal, which was valued at $980m (£625m), was a landmark one for international drinks giant Coca-Cola, giving it a major platform in the Middle East. It represented the largest single investment by a multinational company in the region in the consumer goods sector and spanned no fewer than 10 countries.
As such, it put Al Tamimi's TMT and employment team through their paces. Intellectual property was a key component of the deal. The due diligence process involved between 600 and 700 trademarks in both English and Arabic while there were also ownership issues relating to complex beverage production technology.
During the deal, transfer of ownership and control of the intellectual property (IP) assets was completed via a complex holding company structure spanning three jurisdictions. The employment aspects of the deal also presented Al Tamimi with legal challenges. The deal involved 2,000 Aujan employees working in 13 separate companies across 10 jurisdictions. It entailed the transfer of employees within Saudi Arabia and between Saudi Arabia and the United Arab Emirates.
Employment partners Samir Kantaria and Rebecca Ford spearheaded the employment aspects of the deal, while head of TMT, David Yates, led on the IP side. The judges praised Al Tamimi for its innovation, project management and team work.
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