0

The SME Investment Fund Invests in Four Jordanian Companies

In 2019, Khalifeh & Partners acted for Al Arabi Investment Group “AB Invest”, the Investment Manager of the Jordanian Banks’ SME Investment Fund, to successfully invest in four (4) targeted companies in Jordan.

AB Invest, a leading regional investment banking firm, invests in small and medium-size enterprises (SMEs) through the Jordanian Banks’ SME Investment Fund. In December 2019, Khalifeh & Partners’ team, including Khaldoun Nazer (Partner), Noor Abu Al Samid (Associate), and Saed Obeidat (Junior Associate), worked with the Jordanian Banks’ SME Investment Fund, in completing a 26% ownership in the shares of the Eye Specialty Hospital, the first specialized hospital in ophthalmology in Jordan.

Earlier in 2019, the Jordanian Banks’ SME Investment Fund also invested into a 36.4% stake in ATICO Fakhreldin Group, a leading holding company in Jordan’s hospitality sector. K&P’s team, including Khaldoun Nazer (Partner), Dana Mubaidien (Associate), and Mera Alamat (Junior Associate), worked as legal counsel to advise AB Invest and the Jordanian Banks’ SME Investment Fund on the investment  through a share transfer and share subscription. The team also worked for the successful investment in a 46% stake in Japanese Flavor Co., a Jordanian limited liability hybrid food chain, where the Jordanian Banks’ SME Investment Fund invested in the Target through a capital raise at the company level.

In July 2019, K&P’s Khaldoun Nazer (Partner) and Siwar Saket (Associate) also successfully acted as legal counsel to AB Invest and the Jordanian Banks’ SME Investment Fund in the investment in a 35.63% equity stake in International Company for Outsourcing Services (“Crystel”), a Jordanian multilingual contact centre.

“Working with Khaldoun and the K&P team has been an absolute pleasure,” says Jameel Anz, Head of the Jordanian Banks’ SME Investment Fund. “The level of commitment and unwavering support we have received from them played a key role in a swift and successful closing of these investments. We will most certainly be engaging K&P in more transactions going forward.”

Khalifeh & Partners continues to act for AB Invest and the Jordanian Banks’ SME Investment Fund in its investment opportunities, contributing to Jordan’s growing markets.

Khalifeh & Partners is a full-service law firm that offers comprehensive expertise to our clients across many practice areas and jurisdiction, and is ranked “Tier 1” by Chambers and IFLR 1000. Please visit www.khalifehlaw.com for additional information about our practice and lawyers.

Leave a Reply

Your email address will not be published. Required fields are marked *