Abousleiman & Partners is one of the first name competitors think of when listing the country's leading finance firms and one competitor feels it warrants a top-tier ranking in M&A. "I would put them in tier one....
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Abousleiman & Partners is one of the first name competitors think of when listing the country's leading finance firms and one competitor feels it warrants a top-tier ranking in M&A. "I would put them in tier one. I know they have been working on some very big transactions," says one peer. General consensus however is that the firm is strongly focussed on banking work and this is where its principle strength lies. "It's a very good boutique firm, they only do, well let's say 90% of their work is focussed on banking and finance. But, in this sector they are very good." The firm have had an active year on the corporate side and another 12 such positive months could see the firm on the climb.
Market recommended, name partner and practice head, Randa Abousleiman, took the helm on all the firm's M&A deals, three of which have involved Cayman based entities. On the largest of these deals Abousleiman acted for EFG Hermes on its acquisition of 65% of the common shares in Crédit Libanais for $752 million in November 2010.
Competitors note the firm has strong ties with Dewey & LeBouef and collaborates with the firm providing local advice on a number of its deals. In one such deal the team acted across from the international firm, advising a Lebanese fashion group in the sale of 20% of it's share capital to a Cayman Islands Fund for $26 million.
An ongoing deal sees the firm acting for the buyer of a 26% interest in a Cayman Islands SPV (special purpose vehicle). The object of the acquisition is to indirectly acquire a quasi equity stake in a major real estate development in Lebanon.
With an excellent reputation and established relationships with the country's banks, the firm commonly advises on capital markets issues in addition to lending activities. One such deal saw the firm advise on the offering of $85 million series B preferred shares of Fransabank.
In a notable debt transaction the firm advised Credit Libanais as issuer and Credit Libanais Investment Bank as placement agent on offering of $75million of subordinated notes due in 2017.
A further deal saw the firm advise the American University of Beirut on securing the $28.5 million funds for financing the construction of a new medical complex in January 2011.
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