Clifford Chance advises industrial and trading company in UAE acquistion

June 29, 2011 Clifford Chance has taken a leading role on the acquisition of a 35% stake in UAE-based mobile handset retailer and distributor Axiom Limited by Qatar-based Mannai Corporation QSC. The firm advised on the acquisition of the shares as well as the acquisition financing - provided by HSBC Bank Middle East Limited.

The team of lawyers from Clifford Chance was led by Corporate Partner Mike Taylor, who said: "We are delighted to have advised Mannai on its strategic investment in Axiom, one of the best known retail brands in the Middle East. Clifford Chance's team played a crucial role in achieving a successful close to the corporate and finance aspects of the transaction in an extremely challenging time frame. Our work with Mannai is an example of Clifford Chance's relationships in Qatar, which will continue to strengthen with the recent opening of our office in Doha."


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