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Clifford Chance advising on US$114 billion bank merger between Abu Dhabi Commercial Bank and Union National Bank

3 February 2019

Clifford Chance advising on US$114 billion bank merger between Abu Dhabi Commercial Bank and Union National Bank

Clifford Chance is advising Union National Bank (UNB) in relation to their merger with Abu Dhabi Commercial Bank (ADCB) and their subsequent acquisition of Al Hilal Bank.

This transaction will create the third largest financial institution in the UAE and the fifth largest in the GCC, with assets of AED420 billion (US$114 billion). It is anticipated that the bank will have over 1 million customers.

The Clifford Chance team was led by M&A partner Mohammed Al-Shukairy.

Clifford Chance has the leading M&A team in the Middle East and have acted on most bank M&A deals in the region recently, including for clients such as Saudi British Bank, Emirates NBD, National Bank of Kuwait, Citibank, HSBC, ABN Amro, Qatar National Bank and others. The team was recently awarded 1st place by value in the Middle East by the Mergermarket 2018 Global M&A League Tables.