With Kuwait remaining largely untapped by international firms, domestic practices continue to thrive, and Al-Ruwayeh & Partners (formerly Al-Sarraf & Al-Ruwayeh) remains one of the most respected local firms based on market feedback. "They're really good, they're a sizeable firm able to jump on call....
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With Kuwait remaining largely untapped by international firms, domestic practices continue to thrive, and Al-Ruwayeh & Partners (formerly Al-Sarraf & Al-Ruwayeh) remains one of the most respected local firms based on market feedback. "They're really good, they're a sizeable firm able to jump on call." says one client. Key figures are Sam Habbas, who leads the international department, and Hossam Abdullah, who received respectful comments from his peers. "I have worked with him and I think he's a very clever guy," says one rival partner.
One of the firm's biggest clients is Global Investment House and both Habbas and Abdullah are involved in advising it on the restructuring of its debts. The firm also advised Global on a four-tranche, multi-currency bond issuance worth KD50 million ($174 million).
Private placement mandates also form a large proportion of the firm's work. The team advised the Kuwait Investment Projects Asset Management Company over the private placement of KD99 million worth of shares in United Healthcare Company and in addition advised the company in the private placement of KD50 million worth of shares in the Middle East and North Africa (MENA) Real Estate Company.
One of the firm's largest M&A deals was the $1.2 billion acquisition of the Iraqna Company for Mobile Phone Services by the Mobile Telecommunications Company (through a Cayman subsidiary). The firm was mandated by the National Bank of Kuwait on the transaction. The National Industries Group also called on the firm to advice on the sale of its shares in Karachi Electric Supply Company to Abraaj Capital.
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