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Clifford Chance tops Mergermarket M&A League Tables for the Middle East and Africa

18 January 2023

Clifford Chance tops Mergermarket M&A League Tables for the Middle East and Africa

Leading international law firm Clifford Chance is ranked first in Mergermarket's M&A league tables by deal value for the Middle East and Africa in 2022.

The Firm's performance in these rankings follows its achievement of being named MENA Legal Adviser of the Year by Mergermarket at their Europe M&A Awards in 2022, for the second year running.

Having been active in the MEA region for close to 50 years, Clifford Chance is known as a go-to-firm in the region for big ticket, strategic and first-of-its-kind transactions.

Working across its offices in Abu Dhabi, Dubai, London and Casablanca, as well with Abuhimed Alsheikh Alhagbani Law Firm (AS&H) in co-operation with Clifford Chance in Saudi Arabia, the Firm advised on some of the most ground-breaking transactions over the past twelve months, including advising DP World on the US$5 billion sale of a stake in three of its flagship UAE assets, as well as advising TAQA on its landmark transaction with ADNOC and Mubadala in relation to Masdar's renewables and green hydrogen businesses.

The team also advised Bain Capital and NB Renaissance Partners on the acquisition of French software services provider Inetum SA from Bahrain's Mannai Corp QPSC. In Sub-Saharan Africa, the Firm saw a rebound in work from 2021, driven by exit processes, a number of which are ongoing. The team advised Actis and Mainstream Renewable Power on the US$1.5 billion sale of Lekela Power being the stand-out transaction in the market.

Mohammed Al-Shukairy, Regional Managing Partner and M&A lead for the firm in the Middle East comments: "This is great recognition of our market-leading M&A teams in the region. 2022 was a busy year for many of our clients, especially in the energy, infrastructure and healthcare sectors. Signs are positive for another strong year in 2023 and we are already seeing significant outbound activity from the region, fuelled by long term diversification plans, notwithstanding continued volatility in global markets."

Mustapha Mourahib, Managing Partner for Casablanca adds: "2022 saw a significant renewal of activity as travel restrictions lifted post-Covid, with the market driven by exit activity and significant interest in key sectors such as clean energy and connected services around climate resilience. We've also seen Africa focussed funds starting to look at Middle East opportunities, and Middle Eastern investors looking more consistently at both North African and Sub-Saharan African deals, reflecting the growing opportunities for investment in both markets."