Leading international law firm Habib Al Mulla & Partners, a member firm of Baker & McKenzie International, has advised Ghassan Aboud Group, a UAE based multi-business conglomerate, on a partnership agreement with AD Ports Group, the leading facilitator of trade and logistics in the Middle East, on the development of one of the region’s largest food trading and logistics centres in Abu Dhabi.
The transaction, which was announced on 9 February 2022, brings together Ghassan Aboud Group and AD Ports Group in collaboration with Rungis, a prestigious Paris-based wholesale food market known for being the largest in the world, to create a leading competitive food trading platform serving the agriculture sector as well as various food companies and wholesalers and ensuring food security in the region. Located at KIZAD and expected to start operating by the end of 2022, the regional food and logistics hub will have a special name that will be announced once operational.
Commenting on this significant transaction, Omar Momany, Partner and Head of the Corporate and M&A Practice Group at Habib Al Mulla & Partners, a member firm of Baker & McKenzie International, said, “We are delighted to have partnered with our client Ghassan Aboud Group on such a landmark regional project. The synergies that will be achieved by bringing together the local and international trading and logistics capabilities of each of Ghassan Aboud Group, AD Ports Group and Rungis, will be invaluable as the UAE races to top the Global Food Security Index by 2051.”
The Corporate/M&A team of Habib Al Mulla & Partners, a member firm of Baker & McKenzie International, was led by Partner Omar Momany and Senior Associate Marcos Spanos and was supported by Real Estate Senior Associate Keri Watkins and Associates Jaanzeb Khan and Tala Shomar.Baker McKenzie advises on more cross-border transactions than any other law firm. Most recently, the team advised ETC Group in its agreement with SABIC Agri-Nutrients Company to acquire a 49% interest in ETG Inputs Holdco Limited, a distributor and blender of specialized fertilizer and agro chemicals in Africa, for USD 320 million.