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Deal by Design
Welcome to this edition of Law Update, focusing on the evolving M&A landscape across the MENA region. With deal activity and value continuing to grow, the region is seeing increased investor interest alongside a changing regulatory environment.
This edition explores key legal and market developments affecting M&A transactions, including regulatory reforms, foreign investment, governance, due diligence and deal structuring across the region.
The Saudi Ports Authority had on 9 March 2020 issued Circular No. 37 of 2020 containing the following mandatory orders:
(i) Save for the purposes of evacuation, delivery of goods, and trading – all sea voyages between the Kingdom of Saudi Arabia (the “KSA”) and any of the below countries shall cease:
(a) Bahrain;
(b) Egypt;
(c) Iraq;
(d) Italy
(e) Kuwait;
(f) Lebanon;
(g) South Korea;
(h) Syria; and
(i) The United Arab Emirates
(collectively, the “Restricted States”).
(ii) Any person who was in any of the Restricted States within the 14 days immediately prior to his/her arrival in the KSA, shall be not be allowed to enter the KSA
(iii) No seafarer who was in any of the Restricted States within the 14 days immediately prior to his/her arrival in the KSA, shall be permitted to board or disembark from any ship that calls any KSA port.
(iv) No seafarer shall be permitted to board or disembark from any ship that was in any of the Restricted States within the 14 days immediately prior to her arrival in the KSA.
Omar Omar
Partner, Head of Transport & Insurance – UAE
o.omar@tamimi.com
Gabriel Yuen
Associate, Transport & Insurance
g.yuen@tamimi.com
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