Hourani & Partners advised Officine Nicola Galperti e Figlio S.p.A (Galperti) in its 100% acquisition of Precision Forgings, a subsidiary of the Al Suweidi Group. Galperti, based in Italy, is renowned for its expertise in manufacturing flanges and other steel forgings for the Oil & Gas industry, acquired 100% of Precision Forgings in the…
Hourani & Partners advised Al Malki Group on three strategic joint ventures with renowned global brands: Dolce & Gabbana, Technogym, and Ermenegildo Zegna. Al Maliki Group is one of the largest Saudi Arabian retailers in the luxury fashion and lifestyle industry, The strategic joint ventures further bolsters the group’s position in the luxury market…
Hourani & Partners hosted the Georgetown University Law Center Alumni Reception at its offices in Dubai. The event brought together a diverse array of alumni, partners, clients, and distinguished guests for an evening of networking and celebration. Partner Chadi Hourani, who serves as the Chairman of Georgetown’s Middle Eastern and North African (MENA) Law…
Hourani & Partners is advising Aljozoor Alrasekha Trucking Company (Rahaal), a wholly owned unit of United International Transportation Co (Budget Saudi), on its acquisition of stakes in Overseas Development Co. Ltd’s subsidiaries in Saudi Arabia, the United Arab Emirates, and Kuwait. Overseas Development Co. Ltd is a prominent provider of industry-specific logistics, shipping, and…
Transfer pricing for tax purposes has long been an extensively discussed issue globally, and recent political and public concerns about tax avoidance have energised tax regimes globally to update laws and regulation in this regard. In the Kingdom of Saudi Arabia (KSA), the Zakat, Tax, and Customs Authority (ZATCA) issued Transfer Pricing Bylaws (the Bylaw)…
In the last few years, the United Arab Emirates (UAE) has become an increasingly popular destination for individuals and families to move their lives. The UAE’s favourable tax regime, warm climate and endless economic opportunities have made it an attractive choice for expats and entrepreneurs, alike. Although no personal income tax is levied on individuals…
Hourani & Partners advised Schlumberger Middle East S.A. (Schlumberger) on its acquisition of a 40% stake in AZR Petroleum Contracting Company. Schlumberger the world’s largest oilfield services company with a global footprint in more than 100 countries. AZR Petroleum Contracting Company is a prominent player in the Saudi Arabia oilfield industry, specializing in wireline…
The UAE Ministry of Finance has just recently issued Ministerial Decision No. 27 of 2023 on The Implementation of Certain Provisions of Cabinet Decision No. 85 of 2022 on Determination of Tax Residency, to provide more specific guidelines on how tax residency should be determined in the UAE. Key takeaways of the Ministerial Decision…
In December 2022, in his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, issued a Decree, establishing the Family Businesses Centre in the emirate of Dubai’ (Dubai Family Business Centre). The Dubai Family Business Centre aims to support family businesses in achieving their potential of…
Hourani & Partners advised SmartMed Investment Company (SmartMed) on the sale of Jiwar Medical Services LLC to National Medical Care Company (CARE) for SAR 65m. Smartmed, based in Riyadh, offers a unique home health care services and has a focus on improving the primary healthcare system in the Kingdom of Saudi Arabia. Its holding,…
Aakriti Sharma has joined Hourani & Partners as a Senior Associate in the Tax team. Aakriti, an Australian qualified lawyer, brings a wealth of experience in tax law to Hourani. With her extensive background, including pivotal roles at Herbert Smith Freehills, Deloitte, and EY Consulting, Aakriti has established herself as a trusted advisor in the…
Hourani & Partners has advised Investcorp Saudi Pre-IPO Growth Fund LP in the acquisition of a majority stake in Nour Internet for Communication and Information Technology Company (“NourNet”), through an auction process. This marks the second transaction that Hourani has advised. Investcorp is a global investment manager specializing in alternative investments including private equity,…