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K&P Awarded “National Firm of the Year”

For the past several years, Khalifeh & Partners has been ranked ‘Tier 1’ by all major legal directories, including Chambers & Partners, IFLR 1000, and The Legal 500. Recently, Khalifeh & Partners achieved the ranking of National Law Firm of the year (Jordan) on October 17th during IFLR 1000’s 2018 Middle East Awards. The event took place at the Burj Al Arab in Dubai and celebrated the most innovative legal work over the past 12 months across six categories, as well as the  teams behind it.

 

K&P was recognized for the firm’s leading roles on numerous financing transactions, including a number of high-value projects such as the USD $1.4 billion Attarat Um Ghudran Oil Shale Fired Power Plant, in addition to several M&A transactions including Pepsico’s sale of 52% shares to CIB Investments SPC Limited, and ADP’s acquisition of shares in Airport International Group (AIG). The firm was also recognized for its pioneering work in other sectors, including Jordan’s sports and entertainment law through its submission of several successful appeals to the Asian Football Confederation (AFC) and the Federacion Internationale de Football Association (FIFA).  Finally, K&P also advised the Energy Charter Secretariat on the barriers and risks related to foreign investment in the energy sector in Jordan.  K&P’s role is anticipated to support Jordan as it moves to sign the Energy Charter Treaty, the only legally-binding international treaty that establishes a multilateral framework for cross-border cooperation in the energy industry.

 

“We are honored to be the recipient of such an award”, says Managing Partner Ala’ Khalifeh. “Khalifeh & Partners always strives to provide the most comprehensive and efficient advice to our clients, and our lawyers receive cross-sector training and experience so that they are able to think critically and innovatively about every transaction. This award speaks to the dedication and diligence of our team, and I couldn’t be more proud.” Gratitude to K&P’s clients was expressed by Khaldoun Nazer, who says “the trust of K&P’s longstanding clients has led us to the top of the legal market in Jordan. We will continue to provide our clients with the excellent services they deserve as we strive to understand their business needs and provide them with tailored legal advice.” Iyad Hamarneh, Partner and head of litigation at K&P offers further explanation and praise, saying “In every corporation, there are several factors that provide a foundation for success. We at Khalifeh & Partners are blessed and proud to have a dedicated and hardworking team who spare no effort and work closely together to establish and maintain the firm’s excellent reputation. Without this team, we could not have won this award.  For each one of you, thank you very much for this achievement. ”

 

K&P would like to thank its clients and partners both in Jordan and abroad for their cooperation and hard work during the past year, and would also like to congratulate all of the winners.

 

Headline: Khalifeh & Partners Advises Nebras Power on Acquisition Deal

Qatari shareholding company Nebras Power has acquired 40% of global power major AES Corporation’s stake in Al-Manakhir IPP4 power plant in Jordan.

The announcement came at a meeting yesterday where AES president (Europe Middle East and Asia) Julian Jose Nebrada Marquez and Nebras CEO Khalid Mohamed al-Jolo said with the latest acquisition, Nebras will now own a 24% interest in the 241MW plant.
The plant reportedly meets more than 20% of Jordan’s power requirements.
The new transaction is expected to be completed next month.
AES currently owns a 60% interest in the project through its fully-owned subsidiaries. The remaining stake is held by Japan’s Mitsui & Co.
The Al-Manakhir Plant, which started commercial operations in July last year, has 16 tri-fuel units, and is working on natural gas, heavy oil and diesel. The plant is generating additional power to cope with the increasing demand for electricity in Jordan.
Speaking at the meeting, general manager of Qatar Electricity and Water Company (QEWC) and Nebras chairman Fahd Hamad al-Mohannadi said the latest acquisition of Nebras is in line with the vision of the company’s board of directors to turn Nebras Power into a strong global company.
The company, he said, along with its international partners, is pursuing continuing investments in power generation and water desalination projects, both within the region and outside. The company also owns a 35% stake in Shams Ma’an Solar PV project in Jordan.
Al-Jolo said, “Our company started its investments last year after we acquired stakes in the Shams Ma’an project, also in Jordan, and the deal involving Al-Manakhir plant is its second investment in the country in less than a year. It shows how important the Jordan power market is for Nebras.”
He also spoke about plans by the company in such markets as Morocco and Turkey, by investing in productive power plants and also by joining hands with some of the major players at the international level.
Echoing al-Mohannadi’s comments, al-Jolo said the latest investment is in line with Nebras’ long-term strategy to strengthen its international expertise and reach.
Marquez said AES is committed to delivering best standards and practices in the industry and would utilise all available opportunities in a fast growing market as Jordan, making use of the existing as well as new facilities being developed.
The $1bn Nebras Power was set up last year as a joint venture among QEWC (60%), Qatar Petroleum (20%) and Qatar Holding (20%).