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English, Arabic, French, German, Urdu, Hindi, Punjabi, Marathi, Gujarati, Russian
Al Busaidy, Mansoor Jamal & Co. (AMJ) is a globally-ranked, top-tier law firm of international quality established in Oman 40 years ago. It has been described as a rarity in the Middle East being an independent, national firm that tops the legal rankings. The firm’s 40-strong team of resident partners and associates is the largest in Oman providing clients with a breadth and depth of expertise and specialisation unique in the country. Five teams of experienced UK, US and Commonwealth-trained solicitors, barristers, Arab law specialists and Omani advocates serve a large portfolio of international and regional corporates, financial institutions, government and state-owned enterprises, trading houses, and high net-worth individuals. The teams include the greatest number of elite and ranked lawyers in the jurisdiction known for their involvement in innovative, ‘first of a kind’ deals and major projects in Oman and the region. Recent highlights include advising on the landmark restructuring of Oman’s aviation, transport and logistics and utilities sectors as well as advising the Government on several jumbo bond and sukuk issuances.
Main Areas of Practice:
Banking and Finance AMJ’s banking and finance team handles large-scale domestic and cross-border transactions for Omani and international banks, international finance and export credit agencies, government bodies (including the Sultanate of Oman itself), issuers (corporate and sovereign), asset managers, funds, private equity participants and project sponsors. They regularly advise borrowers and lenders on the full range of financing structures, in both the conventional and Shariah-compliant space. AMJ has been involved in the majority of the government’s estimated US$34 billion external borrowings over the last three years. The team has also won heavyweight mandates from international and regional banking institutions in the wholesale lending market. AMJ’s dedicated Islamic finance team has advised on numerous ‘first of a kind’ Islamic and hybrid real estate development financings and product developments. The team also comprises dedicated Islamic finance experts with experience of working on complex Shariah-compliant transactions across the globe and regularly advises Islamic banks and windows on their bond and/or sukuk issuances as well as development of their retail products for introduction into the Omani market. The Islamic finance team has also been at the forefront of advising on various regulations prepared by regulatory bodies in Oman.
Corporate/Capital Markets and M&A AMJ has the largest corporate/capital markets and M & A practice in Oman advising the Government of Oman, leading corporates and institutions on the full spectrum of corporate, capital markets and M&A work. It regularly acts for corporate clients in headline capital market transactions (including IPOs, rights and private placement issues). It also advises on the establishment of investment funds (ETFs and open-ended funds) and bond issues. The team also advises on high-profile M&A deals and private equity transactions. AMJ’s corporate teams have advised on a number of privatisation projects and complex restructurings. The team provides advise on the full range of securities laws and regulations, bankruptcy laws, corporate governance, compliance and other regulatory matters. AMJ has been at the forefront of ground-breaking capital market developments such as swaps and derivatives.
- Corporate/M&A
- Capital Markets
- Litigation and Arbitration
- Banking and Finance
- Commercial
- Regulation and Governance
- Projects
- Energy
- Natural Resources (Oil and Gas and Mining)
- Tech and Telecoms
- PPP/PFI
- Competition
- Employment
- Intellectual Property
- Real Estate
- Tax
- Islamic Finance
- Restructuring and Insolvency
- Construction
Bonds and Sukuk:
Mansoor Jamal Malik
mansoor.malik@amjoman.com
Banking and Finance:
Marcus Pery
marcus.pery@amjoman.com
Capital Markets:
Ardeshir Patel
adpatel@amjoman.com
Mergers & Acquisitions:
Mansoor Jamal Malik
mansoor.malik@amjoman.com
Islamic Financing:
Mansoor Jamal Malik
mansoor.malik@amjoman.com
Recently Aadvised
- Consortium of Japan Gasoline Company, Oman based United Infrastructure Development Company and Doosan Heavy Industries and Construction Company of Korea and Lenders for the development, financing, design, engineering, construction, ownership, operation and maintenance of an independent water plant at Al Sharqiyah.
- Duqm Refinery And Petrochemical Industries Company LLC on the development, financing, design, engineering, construction, ownership, operation and maintenance of the Duqm Refinery Project
- Lenders to the ACWA Consortium on the development, financing, design, engineering, construction, ownership, operation and maintenance of an Independent Water Project in Salalah.
- Government of Oman on its US$ 6.5 billion fund raise involving update to the unlimited sukuk issuance programme and the issuance of 7-year tenor US$1.5 billion sukuk thereunder as well as its issue of US$5 billion triple-tranche notes pursuant to Regulation S / Rule 144-A;
- Government of Oman on the establishment of its global medium term notes issuance programme and the issuance of US$7 billion triple-tranche Regulation S / Rule 144-A jumbo bond issuance thereunder.
- Joint lead managers and principal financial advisors on Mazoon Electricity Company S.A.O.C.’s US$500 million debut sukuk issuance. This transaction was the first issuance of sukuk in Oman from the regulated electricity /power sector;
- Joint lead managers on all Omani law aspects of the update to the National Bank of Oman’s US$1.5 billion euro medium term notes (EMTN) programme and the issuance of 5-year tenor EMTNs in the amount of US$500 million
- an Omani corporate entity in connection with the establishment of the first Islamic real estate investment trust (REIT) under the Capital Market Authority’s recently issued REIT Regulations;
- various blue-chip oil and gas companies [including Qatar Petroleum, MOL (Hungary), etc] with respect to their investments in the oil and gas sector in Oman;
- as sole legal counsel on the establishment of a R.O. 100 million sukuk programme by a leading Islamic bank which is based on a novel hybrid structure of musharaka ijara;
- as sole legal advisor on a mudharaba capital deposit financing for a leading Islamic window which is the first such financing with respect to Tier 1 Islamic Bank limits in the Sultanate of Oman.
- various Islamic banks and windows in connection with development of Islamic Finance products and financing of various projects (hospitality, defence, poultry, etc) projects aggregating, US$500 million approximately.
- J.P. Morgan Securities plc and Bank Muscat SAOG (the Joint Lead Managers) for issuance of the phase 1 and II notes, in the principal amount of $1 billion with a tenor of 10 years which marked the first and second-ever investment grade international bonds issuance by Oman Electricity Transmission Company, a member of the Nama Group (Electricity Holding Company SAOC).
- the Government of Oman on its US$4 billion Reg.S / Article 144A bond issuance undertaken by the Government of Oman.
- the Government of Oman and the joint lead managers, Standard Chartered Bank and Deutsche Bank, on the sovereign US$500 million sukuk certificates due in 2022 offered by the Government of Oman for subscription to investors outside of the Sultanate of Oman.
- the joint lead managers on the debut US$650 million sovereign sukuk issuance undertaken by the Government of the Sultanate of Oman.
- Gulf Energy Development, PCL of Thailand on the acquisition of a 45% participating interest in respect of US$480million Duqm IPWP Project;
- the consortium led by Marubeni Corporation in respect of the design, conservation and financing of the 100mw Amin Solar IPP
- Dhofar Generating Company on its IPO and conversion to a joint stock company and its listing on Muscat Securities Market raising OMR 20 million through the IPO of a 40% stake (88,896,000 shares at a price of 225 baisas per share) open to individual and institutional
- Oman Aviation Group SAOC in relation to grant of an Investment and Management Licence for all civil airports in Oman to the Oman Aviation Group SAOC by the Public Authority for Civil Aviation and usufruct
- Acquisition by Sheikh Suhail Bahwan and Sheikha Amal Bahwan of 51% of the total share capital of Al Jazeera Steel Products Company from Global Buyout Fund LP.
- ACWA Power, Mitsui & Co., and other founders of Dhofar Generating Company (DGC( on DGC’s IPO and listing on the Muscat Securities Market;
- RSA and other founders of Al Ahlia Insurance Company (ALIC) on ALIC’s IPO and listing on the Muscat Securities Market;
- Malakoff and Sumitomo and other founders of Muscat City Desalination Company (MEDC) in connection with MEDC’s initial public offering of shares and listing on the Muscat Securities Market;
- Prysmian Group S.p.A. on the acquisition by its wholly owned subsidiary Draka Holdings B.V. of an additional 16% (approx.) shareholding in Oman Cables Industry SAOG resulting in it acquiring control over the publicly listed target;
- Jawad Sultan group on a milestone transaction for the Omani entertainment industry which involved Majid Al Futaim Gulf Cinemas LLC acquiring a majority stake in Oman Arab City Cinema Co. LLC;
- National Bank of Oman SAOG on the establishment of the NBO-GCC Investment Fund;
- Renaissance Services SAOG in connection with the sale of its interests in United Media Services LLC (subsidiary of Renaissance Services SAOG) to Muscat Overseas Group.
- Oman Dry Dock Company SAOC on the acquisition of 50% of the issued share capital of Duqm Development Company SAOC (DDC) from Daewoo Shipbuilding and Marine Engineering (DSME) of Korea. DDC was a 50:50 joint venture between DSME and Oman Tourism Development Company (Omran) which is the investment arm of the Omani government for the tourism sector.
- Renaissance Services SAOG on its issuance of dual-currency (U.S. Dollars/ Omani Rials) perpetual bonds worth up to $200 million, which were listed on the Irish Stock Exchange by Renaissance International Limited which is a wholly owned subsidiary of Renaissance Services SAOG.
- Renaissance Services SAOG in connection with divestment of its interests in National Training Institute LLC, a training and education provider, to an acquirer from the U.K.
- International Finance Corporation (IFC), a member of the World Bank Group in relation to its acquisition of 5.38% of the share capital of BankMuscat SAOG for a consideration of approximately USD $ 195 million, through a private placement exercise.
- Dubai Insurance Company in connection with its sale of a 41.13% stake in Oman National Investment Corporation Holding SAOG to the Oman Investment Fund, a sovereign wealth fund of the Sultanate of Oman.
