Clifford Chance Advised Mashreqbank On Sale Of Majority Stake In NEOPAY
Clifford Chance Advised Mashreqbank On Sale Of Majority Stake In NEOPAY
Clifford Chance Has Successfully Advised Mashreqbank PSC (“Mashreq”), One of the UAE’s Prominent Financial Institutions, on the Sale of a Majority Stake in NEOPAY, a Rapidly Growing Payment Solutions Provider in the UAE. The Stake Has Been Sold to a Consortium Consisting of Arcapita Group Holdings Limited and Dgpays, Who Will Hold Equal Partnership in the Venture. Mashreqbank Will Maintain a Significant Minority Interest in NEOPAY Following the Transaction.
The Deal Signifies an Approximate Enterprise Value of USD 385 Million for NEOPAY and Is Pending Necessary Regulatory Approvals for Closure. This Acquisition Marks a Significant Milestone for NEOPAY as It Seeks to Enhance Its Footprint in the Burgeoning Digital Payments Sector Within the Middle East. The Strategic Backing from the Consortium Is Expected to Facilitate NEOPAY’s Growth Trajectory and Enable the Introduction of New Services by Leveraging Dgpays’ Innovative Technology.
Clifford Chance’s Team Provided Comprehensive Legal Guidance to Mashreq Throughout the Transaction, Drawing on Its Extensive Experience in Banking, Financial Services, and Technology-Related Mergers and Acquisitions, as Well as Its Specialized Regulatory Expertise. The Firm Played a Pivotal Role in Addressing the Complexities of the Deal, Ensuring the Protection of Mashreq’s Interests Throughout the Process.
The Clifford Chance Team Was Led by Partner Jack Hardman, based in Dubai, and Included Legal Director Gareth Dray, Senior Associates James Dadford, Kimberly Ng, and George Holman, as Well as Associates Ahmed Shafiek, Declan Ng, and Ismaila Ngum, With Additional Support From Other Specialized Colleagues.
