Clifford Chance has advised leading UAE mortgage finance provider Abu Dhabi Finance (ADF) on the sale of its residential and commercial mortgage portfolio to Abu Dhabi Commercial Bank (ADCB).
The portfolio consists of approximately 1,000 residential and commercial mortgages.
Through the unique depth and breadth of its combined financial services and M&A practices, Clifford Chance was able to assist on all legal and regulatory aspects of the transaction (including in relation to the relevant regulatory approvals).
The Clifford Chance team was led by partner Deniz Tas and counsel Jack Hardman, with support from associates James Dadford and Tammie Le. The team also included partners Mike Taylor and Nicola Reader, and senior associates Gareth Dray and Rizwan Butt.
Ranked 1st for M&A in the Middle East and Africa by Mergermarket in 2020, Clifford Chance regularly advises on the region's most high profile and innovative M&A transactions. In the banking sector, the firm recently advised Al Khaliji Commercial Bank on the signing of its merger agreement with Masraf Al Rayan, creating one of the Middle East's largest Shariah-compliant banking groups with assets and shareholder equity worth more than 183 billion Qatari Riyals; NCB on its US$223 billion merger with Samba; SABB on its US$70 billion merger with Alawwal Bank; and UNB on its US$114 billion merger with ADCB and Al Hilal Bank.
For further information about Clifford Chance see www.cliffordchance.com
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© Press Release 2021