Finalists 2012: Al Tamimi & Company; Allen & Overy; Clifford Chance; Clyde & Co; Shearman & Sterling

Coca-Cola's landmark acquisition of a 50% stake in Saudi Arabian company Aujan Industries' beverage brands and a 49% stake in its bottling and distribution assets provided Al Tamimi & Company's corporate team with plenty of opportunities to shine.

Not only did the deal, which was valued at $980m (£625m), span 10 jurisdictions, but it also required the legal team to put together an innovative corporate structure that necessitated negotiations with several regulatory authorities.

Gary Watts, head of corporate and commercial at Al Tamimi's Dubai office, led on the deal with support from partner Marcus Wallman.

The firm also fielded lawyers from its Saudi Arabia, Qatar, Kuwait and Jordan offices and worked with local firms in the remaining jurisdictions.

The structure used to secure the deal required holding companies to be set up in the Dubai International Financial Centre, the Jebel Ali Free Zone and Saudi Arabia.

Throughout the process the team was in touch with the Dubai Financial Services Authority, the Jebel Ali Free Zone Authority and the Saudi Arabian General Investment Authority.

In order to secure the transfer of shares into the three separate holding companies on completion of the deal, the legal team needed to establish a complex completion mechanism that protected the interests of both parties.

The relationship between the three holding companies also needed to be secured via a series of complex, inter-related shareholder agreements.

This was a deal of major strategic importance for Coca-Cola, and its decision to instruct a regional law firm was a major vote of confidence in Al Tamimi.

In its submission the firm cited its in-depth knowledge of the region's regulatory framework as a key factor behind the deal's ultimate success. It added: "Consequently, we were able to provide our client with the necessary assurances that the final structure implemented would comply with the relevant regulations in each of the jurisdictions and allow for the ongoing operation of the Aujan businesses post-acquisition of a stake by Coca-Cola."