Rad El Treki

Law Update: Africa

This month we bring you a special focus on a continent that boasts the world’s largest free trade area, a diverse economic make-up and increasing political stability. The latest edition of Law Update focuses on Africa, a territory that continues to be an attractive business and investment destination.

Like the rest of the world, Africa is still re-building from the impact of COVID-19, however, there continues to be an optimistic view of the opportunities the continent presents. An example of the appetite for investment into Africa was captured in a report we commissioned, titled Legal Leaders in MENA. Our survey of legal leaders revealed a resounding desire to expand into new territories, with 81% naming Africa as their investment destination of choice.

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The leading law firm in the Middle East & North Africa region.

Biography

Rad is a UK qualified Partner and heads the firm’s Bahrain Office with over 20 years’ experience practicing in the UK and across the Middle East.

Rad leads the Bahrain office’s Corporate practice, delivering a diversified and broad corporate commercial offering with particular expertise in corporate finance, corporate structuring, group re-structurings, cross border M&A and JVs. Additionally, Rad has a wealth of experience advising on the corporate aspects of big-ticket state mandated project financings, in particular, within the energy / O&G sector. Rad also has extensive experience in the start-up and scale-up space, advising entrepreneurs, incubation and acceleration centres, private equity firms, and venture capitalists in Bahrain and the wider region, and regularly delivers related presentations, mentoring, coaching, and workshops.

Rad’s clients include domestic and international public and private companies, sovereign wealth funds, international conglomerates, private equity funds, venture capital firms and a wide range of start-up and scale up entities, including a number of the region’s ‘Unicorns’.

Rad qualified as a Solicitor in England and Wales in 2005 whilst working for a large UK regional law firm. From there he moved to the Middle East, joining a first tier firm in Qatar advising on some of the largest projects in the country, before moving to Norton Rose Fulbright in Riyadh, Saudi Arabia, thereafter joining Al-Tamimi in 2016.

Rad is ranked as a “Leading Individual” by Legal 500 and a “Ranked Lawyer” by Chambers & Partners for Corporate, Commercial and M&A, and is named as one of the 50 leading lawyers in the MENA region by Thomson Reuter’s Asia Legal Business in both 2021 and 2022.

Recent Experience

Representing Bahrain Financing Company (BFC) (Bahrain’s leading money transfer and currency exchange company) on the sale of its group business in Bahrain, Kuwait and India to Prism Group and Royal Strategic Partners (owners of Finablr).
Advising Raya Group (listed on the Egyptian Stock Exchange) in its acquisition of 85% of the shares of Gulf CX, one of the leading call center services provider across the Gulf region with operations HQ-ed out of Bahrain.
Advising Koch Chemical Technology Group Saudi Arabia Limited (part of the Koch global group) on its acquisition of the operating assets of Titanium Steel & Manufacturing Co Ltd, a wholly owned subsidiary of Saudi Steel Pipe Co (a company listed on the Saudi Stock Exchange).
Local Counsel advising Saudi Arabian Fertilizer Company (SAFCO) on the Bahrain related elements of its proposed US$1.2bn acquisition from SABIC of interests in various agricultural nutrient assets, including SABIC’s interests in Gulf Petrochemical Industries Company (GPIC) in Bahrain.
Al Dur II Integrated Water & Power Plant (IWPP): Advising the lenders as local lead counsel in relation to the corporate related aspects of the development, ownership and operation of the Al Dur II IWPP project, one of the largest project financings in Bahrain and the GCC in recent years (project value c. US$1.5bn).
Advising GE on the restructuring and divesture of its water based operations and assets in Bahrain as part of the US$3.4bn sale of GE Water, in connection with GE’s merger with Baker Hughes.
Advising Tecnicas Reunidas, a major global EPC contractor, with respect to its joint venture with two leading engineering companies for the US$4.2 billion Bahrain Petroleum Company (BAPCO) Modernization Program (BMP).
Advising a major GCC conglomerate on the acquisition of a 50% stake in a major cinema complex based in Bahrain, which once developed will be one of the world’s largest cinema complexes (acquisition price US$50M+).
Advising CH2M with respect to the acquisition of CH2M by Jacobs Engineering Group, whereby Worley Parsons Group Inc will acquire 100% of the shares and be the full owner of the subsidiary company in the Kingdom of Bahrain.
Lead international counsel managing all of the legal requirements for a major global glass manufacturer in the MENA and wider region, including lead counsel to manage the client’s global expansion project across 8 jurisdictions in the Middle East, Africa, Asia and South East Asia (including Kuwait, Lebanon, Sri-Lanka, Vietnam, South Korea, Kenya and Pakistani), and the centralisation of all intra-group financing operations to Bahrain as part of a US$500M restructuring of regional operations.
Appointed by a major investment house with respect to its proposed acquisition of a leading secondary school based in Bahrain, currently owned by a consortium of sellers.
Advising a major quasi-Saudi government entity with regards to the establishment of a JV chemical production & blending facility in PlasChem Park, Jubail Industrial City II, KSA in conjunction with one of the world’s largest oilfield services companies (initial project financing, SAR 130M+).
Leading the local counsel team advising the lenders on the US$10.4bn Qatar Barzan Gas Project (the world’s largest project financing to close in 2011, and awarded “Global Deal of the Year” status by Project Finance Magazine).