Clyde & Co has advised Mars on the acquisition of all of the shares in its subsidiary ‘onshore’ in Dubai.
Prior to this transaction, Mars owned 49% of the shares in the Dubai LLC, this being the maximum percentage of permitted foreign ownership in a company incorporated ‘onshore’ in an Emirate of the UAE. This transaction is one of the first of its kind since the UAE’s Foreign Direct Investment (FDI) Law paved the way for an increase in foreign ownership in companies incorporated ‘onshore’ in the UAE.
Mars, Incorporated is an American global manufacturer of confectionery, pet food, and other food products and a provider of animal care services, with US$33 billion in annual sales in 2015.
The Clyde & Co team was led by Benjamin Smith (Picture), who was assisted by Marwa El Gazzar (FDI Specialist – Corporate) and Priamvada Princeton (Corporate Specialist – Corporate), with additional support provided by Waleed Massoud and Salim Hares (Government Liaison Managers) and Clyde & Co’s Corporate Services team.
Law Firms: Clyde & Co;
Clients: Mars Inc.;