Dubai, United Arab Emirates - International law firms Tribonian Law Advisors (“TLA”) and BonelliErede Middle East announce that they have represented the shareholders of Al Islami Foods, which is part of the Dubai Cooperative Society and the leading manufacturer of halal food products in the Middle East, in the sale of a minority stake in Al Islami to Mitsubishi Corporation, the Japan-based globally integrated business enterprise.
Saleh Saeed Lootah, chairman of the board of directors, Dubai Cooperative Society said: “This association with Mitsubishi Corporation is another step in Al Islami Foods ongoing efforts to accelerate growth. We believe the relationship with Mitsubishi will increase our production by double-digit growth over the next 5 years through a combination of the expansion of our product range and greater exports.”
For Mitsubishi Corporation, which operates businesses across virtually every industry, the deal expands its position in the global halal food market, which is expected to reach US$1.7 trillion by 2020.
Carlo Pianese, partner at TLA, and Marco De Leo, local partner at BonelliErede Middle East, commented: “We are very pleased to have acted as legal advisor to the shareholders of Al Islami Foods partnering with a blue chip Asian investor like Mitsubishi Corporation. The deal confirms the trend of an increasing interest by sophisticated international investors in the UAE market, especially in certain strategic sectors”.
“This transaction endorses once again TLA’s prime position advising on cross border deals across a variety of different industries”, added Rindala Beydoun, managing partner at TLA.
The TLA team was led by the firm’s managing partner Rindala Beydoun and partner Carlo Pianese, who were assisted by associate Shiladitya Majumdar and trainee Tala Azar.
The BonelliErede Middle East team was led by the Executive Chairman of office, Andrea Carta Mantiglia and the local partner Marco De Leo.
BonelliErede is the market leader for legal services in Italy, covering all areas of business and corporate criminal law. Thanks to its offices in Europe, Africa and the Middle East and to the partnerships with independent law firms around the world, BonelliErede is a true international player.
By combining the skills of its professionals, the firm also offers support through specialised working groups organised by sector and practice area: the focus teams.
The focus teams pool their individual legal expertise and their in-depth sector knowledge to offer clients assistance with all aspects of their businesses.
TLA is a new generation regional law firm providing clients with expert legal advice in M&A, private equity, energy, finance and corporate and commercial law, with offices in Dubai (in association with Rindala Beydoun Legal Consultancy), Beirut and Riyadh (in association with Al-Kheraiji Law Firm). TLA is ranked by Chambers and Partners, IFLR 1000 and The Legal 500. TLA won the regional law firm of the year (small practice) award at the 2018 Middle East Legal Awards hosted by Legal Week. It also won the Rising Star Law Firm of the Year award at the 2016 IFLR Middle East Awards.
© Press Release 2018