Eversheds advises on two key deals in the Middle East
The firm advised on the sale of a controlling stake in Sporter.com in addition to representing Samena Capital and Du for their investment in Anghami.
Eversheds advises on sale of controlling stake in Sporter.com
Eversheds announced that it has advised founder/management shareholders on the sale of a controlling equity stake in Sporter.com to Gulf Capital PJSC, one of the largest and most active private equity and alternative investment firms in the Middle East.
Sporter.com is the leading online retailer of sports and nutrition supplements in the GCC, operating in a rapidly growing sector of the digital economy. Sporter.com’s operations are located in state-of-the-art facilities across multiple countries, which allows the company to provide a convenient, timely and price-effective service to customers in the GCC region.
The Eversheds team was led by Dubai based partner Zeid Hanania with assistance from Hani Nassef and Adam Smith. Ernst & Young acted as financial and tax advisor, while Gibson, Dunn & Crutcher acted as legal advisors to Gulf Capital on the transaction. Capital Bank Corporate Advisory (DIFC) Ltd. acted as financial advisor to the sellers.
Eversheds advises Samena Capital and du on investment in online streaming firm Anghami
Eversheds also advised Samena Capital and Emirates Integrated Telecommunications Company PJSC (“du”) on their investment in the music streaming company, Anghami.
Samena Capital is the premier investment group focused on principal investments in the Subcontinent, Asia, Middle East and North Africa.
Anghami is the leading online music streaming company operating in the MENA region. Samena Capital led the Series B investment round which will fund the next phase of Anghami’s user acquisition and will be used to grow the company’s 20 million song library, which includes the largest catalogue of digital Arabic music globally, and to enhance Anghami’s rapidly growing music video platform among other new features. Samena Capital and du join an existing strategic shareholder base which includes Middle East Venture Partners, MBC Ventures and Mobily Ventures.
The Eversheds team was led by Dubai based partner Zeid Hanania with assistance from Nick Turner. London based partner Neil Mohring provided specialist music sector and recording industry advice while Dubai partner Nasser Khasawneh advised on Middle East related IP matters. The Eversheds team worked closely with Samena Capital’s Senior Managing Director and General Counsel, Dr Markus A. Federle.
