Trowers & Hamlins Acted on sale of Backlite Media to Multiply Group
The acquisition marks a significant milestone for the firm, having assets across the UAE
Trowers & Hamlins Acted on sale of Backlite Media to Multiply Group
The acquisition marks a significant milestone for the firm, having assets across the UAE
International law firm Trowers & Hamlins has advised on the 100% sale of Backlite Media, the United Arab Emirates (UAE)-headquartered out-of-home advertising company to Multiply Group PJSC, the Abu-Dhabi-based holding company, which invests in transformative organizations.
Founded in 1996, with offices in Abu Dhabi and Dubai, BackLite Media is well-known for its innovative approach and commitment to pushing advertising boundaries. It is a key player in the UAE's outdoor advertising sector.
The acquisition by Multiply Group marks a significant milestone for the firm, which has assets in locations across the UAE. In 2023, it earned AED 232 million revenues.
The deal encompasses all operating entities of BackLite Media and is a major stride in Multiply Group’s broader strategy to enhance and consolidate its media interests.
The BackLite deal follows several similarly successful mid-market corporate deals recently on which Trowers advised across the Middle East. The firm has actively worked for clients across various industries, including the power sector and assets, information technology, agriculture and healthcare.
The Trowers & Hamlins team was led by international corporate partner Stephen Sullivan, assisted by associate Ethan Chye.