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Khalifeh & Partners is advising the Public Investment Fund of Saudi Arabia (PIF) on its strategic investment in Capital Bank of Jordan, one of the region’s leading financial institutions with operations across Jordan, Iraq, and the broader Middle East. K&P’s Khaldoun Nazer (Partner), Dana Mubaidien (Senior Associate), and Moawyeh Tarawneh (Senior Associate) are working alongside Allen & Overy to advise PIF on all Jordanian law aspects of the transaction. Khalifeh & Partners is providing comprehensive Jordanian legal support on all aspects of the transaction, including regulatory advisory, legal due diligence, and assistance with securing all requisite regulatory approvals to facilitate completion of the investment. Under the signed subscription agreement, PIF will invest approximately SAR 695 million (JOD 131.2 million) in new shares to be issued by the Bank. The investment will increase the Bank’s total equity to over SAR 3.2 billion (JOD 600 million). Upon completion, PIF is expected to hold a strategic stake of approximately 24%. This transaction highlights Khalifeh & Partners’ established track record in advising on complex cross-border transactions and its ongoing role in supporting sovereign and institutional investment in Jordan’s financial services sector. |
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Khalifeh & Partners Advises Kawar Energy on USD 12.1 Million EBRD Financing
Khalifeh & Partners has advised Kawar Energy on a senior loan facility of up to USD 12.1 million (EUR 10.4 million) provided by the European Bank for Reconstruction and Development (EBRD).
The financing will support the optimisation of Kawar Energy’s capital structure and enhance its financial flexibility, enabling the company to accelerate the development and expansion of its renewable energy portfolio in Jordan and the region.
The transaction reflects continued investment in the renewable energy sector and supports the broader energy transition objectives in Jordan and the region. In addition to the financing, the EBRD is providing a technical cooperation program focused on skills development, inclusive employment initiatives and the strengthening of environmental, social and governance (ESG) practices across Kawar Energy’s operations.
K&P advised Kawar Energy on all legal aspects of the transaction, including the structuring, negotiation and documentation of the financing arrangements.
Senior Associate Adele Shaban and Junior Associate Nizam Nazer, supported by Partner Khaldoun Nazer, led the K&P team.
This mandate further reinforces Khalifeh & Partners’ leading position in advising on complex financing, energy and infrastructure transactions in Jordan, including matters involving major international financial institutions and leading private-sector sponsors.
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Khalifeh & Partners Advises Jordan Capital & Investment Fund on Investment in JOD 50 million “Manara Ventures” Technology Fund
Khalifeh & Partners advised Jordan Capital & Investment Fund (JCIF) in connection with the launch of Manara Ventures GP Limited (“Fund”), a JOD 50 million technology fund established to support high-growth Jordanian startups and advance Jordan’s innovation.
K&P worked on all aspects of JCIF’s investment in the Fund, including the term sheet, shareholders' agreement, limited partnership agreement and subscription documentation. The Fund was launched as a Sharia-compliant investment platform within Abu Dhabi Global Market backed by regional institutional investors, including Abu Dhabi-based investment firm Lunate.
The fund is expected to invest in more than 20 Jordanian technology companies with high growth potential, with investment tickets ranging from USD 750,000 to USD 3 million, including follow-on financing rounds. The fund also includes dedicated capital to support up to 15 companies seeking to expand across regional markets.
Associate Raya Saket, supported by Partner Khaldoun Nazer, led K&P’s team on this transaction.
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Khalifeh & Partners Advises on Jordan’s First Green Ammonia Project
Khalifeh & Partners along with CMS Poland advised Hynfra P.S.A. and its Jordanian partner Fidelity Group in connection with the development of the Jordan Green Ammonia (JGA) project, a landmark clean energy initiative expected to play a significant role in advancing Jordan’s long-term green hydrogen and sustainable fuels strategy.
The firm advised on all aspects relating to the development of the project including the negotiation and execution of the investment agreement with the Government of Jordan, the signing of which took place at the Office of the Prime Ministry of Jordan in the presence of H.E. Jafar Hassan, Prime Minister of Jordan.
The project is expected to exceed USD 1 billion in value and to contribute significantly to Jordan’s emerging green energy ecosystem. Once operational, the project is expected to produce approximately 100,000 tons of green ammonia annually using renewable solar energy and desalinated seawater.
The development will include a large-scale solar power facility in Wadi Araba, supporting transmission infrastructure, and dedicated hydrogen and ammonia production facilities located in Aqaba to facilitate export-oriented operations.
The K&P team was led by Partner Khaldoun Nazer, Senior Associates Dana Mubaidien and Noor Abu Al Samid, supported by Junior Associates Serine ElMasri and Amro ElHudhud.
Related press releases: Hynfra Press Release
Photo source: Petra News Agency
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Iyad Hamarneh Attends Royal Meeting on Judicial Reform
Our Partner and Head of Litigation, Iyad Hamarneh, was honored to be received by His Majesty King Abdullah II, in the presence of His Royal Highness the Crown Prince, at Al Husseiniya Palace, as a member of the Judicial Reform Committee, alongside fellow members.
The meeting followed the submission of the committee’s recommendations, developed pursuant to Royal directives and building on existing institutional frameworks and reform plans.
The committee’s report set out recommendations encompassing legislative review, the development of judicial infrastructure and technology, and amendments to more than 200 legal provisions aimed at unifying procedures and expediting litigation. It also addressed the expansion of the specialized Economic Chamber, the increase in specialized judicial chambers, and the strengthening of judicial capacity to support a more investment-attractive environment.
His Majesty commended the committee’s efforts and emphasized the importance of commencing implementation through a clear execution plan, defined timelines, and effective coordination across relevant stakeholders. His Majesty further underscored the need to assess the impact of these reforms following implementation to ensure their intended objectives are achieved.
We are honored to have our Partner, Iyad Hamarneh, contribute to this important initiative and to support ongoing efforts to enhance the efficiency and effectiveness of the judicial system in Jordan.
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Khalifeh & Partners Advising United Financial Investments Company on Strategic Acquisitions in Jordan’s Financial Brokerage Sector
Khalifeh & Partners has advised United Financial Investments Company (UFICO) on its strategic expansion in the Jordanian market through the acquisition of two financial brokerage firms.
The transaction involved the acquisition of International Financial Center Company, a subsidiary of Housing Bank, and Al-Hikma Financial Brokerage Company. This milestone represents a key step in UFICO’s broader growth strategy, reinforcing its position as a leading player in Jordan’s financial services sector and supporting the continued development of the local capital market.
The International Financial Center Company, largely owned by Housing Bank, is considered among the prominent listed companies on the Amman Stock Exchange, with trading volumes reaching approximately JOD 75 million. As part of the transaction, Housing Bank will retain an equity stake in UFICO. Similarly, Al-Hikma Financial Brokerage Company has recorded annual trading volumes of around JOD 75 million, further reinforcing UFICO’s operational presence following completion of the acquisition.
In advising on this transaction, we delivered end-to-end legal support spanning transaction structuring, drafting and negotiation of transaction documentation, and regulatory advisory. Our integrated and commercially focused approach ensured a seamless execution process and effective navigation of the applicable legal and regulatory landscape. This engagement further underscores our firm’s established expertise in complex M&A transactions within the financial services sector and our continued commitment to supporting clients in delivering strategic, high-impact growth initiatives across Jordan and the wider region.
The K&P team was led by Senior Associate Moawyeh Tarawneh and Junior Associate Alia Farrayeh.
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Khalifeh & Partners Advises AD Ports Group on Aqaba Multipurpose Port Development
Khalifeh & Partners acted as legal advisors to Abu Dhabi Ports Group in connection with the signing of a 30-year agreement with Aqaba Development Corporation (ADC) for the development, modernization, management and operation of a multipurpose and general cargo terminal in Aqaba. The signing ceremony took place in February 2026 at the headquarters of the Aqaba Special Economic Zone Authority (ASEZA) in Aqaba.
The project forms part of a broader development vision for the city of Aqaba and is intended to enhance cargo volumes, operational efficiency and long-term performance and is expected to further strengthen Aqaba’s position as a strategically important regional logistics hub.
Khalifeh & Partners also advised AD Ports Group on the structuring of the transaction, including the shareholders’ agreements, the establishment of the joint venture company and the negotiation of various project-related agreements in connection with the project.
The K&P team was led by Managing Partner Ala’ Khalifeh, with support from Senior Associates Adele Shaban and Siwar Saket, and Junior Associate Alia Farrayeh.