July 14, 2024 6:21 pm in Dubai

Habib Al Mulla and Partners acts for Orascom Development Holding AG in the sale of RAK Tourism Investment FZC in the UAE

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Orascom Development Holding AG (“ODH”) which is recognized as No. 1 of the Top Family Businesses by Fortune 500Arabia, has successfully entered into a binding share purchase agreement for the sale of RAK Tourism Investment FZC (“RAK”).

Transaction Overview:

  • Buyer: Cove Holdings Limited, fully owned by prominent UAE investor Saqr Kamal Hasan (SKH)
  • Asset: The Cove Rotana Hotel, a luxurious 349-room hotel in Ras Al Khaimah
  • Total Enterprise Value: USD 40 million

“Navigating the complexities of cross-border transactions requires exceptional skill and dedication. Our team’s recent success in this intricate deal showcases our commitment to delivering seamless and innovative solutions for our clients. This achievement underscores our expertise in managing multifaceted international legal challenges.”

Dr. Habib Al Mulla, founder of Habib Al Mulla and Partners

Habib Al Mulla and Partners represented ODH in this landmark transaction while Dentons & Co. acted as legal counsel for SKH.

Meet Our Team: The success of this transaction is attributed to the dedicated efforts of our expert team members:

  • Gerry Rogers 
  • Kamel Elshendidy
  • Paula Villegas

For similar inquiries and cases, please feel free to contact our team of experts. We are here to assist you with seamless and innovative legal solutions for your business needs.

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