- AMJ advises TeO on US$25mn acquisition of Renna Mobile
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AMJ has advised Integrated Telecommunications Oman (TeO) on its US$25mn acquisition of all shares in Majan Telecommunications (Renna Mobile). TeO is Oman’s first private Class I licensee international gateway operator providing mobile and fixed services under the operating brand Telecom Oman. Renna is Oman’s first Mobile Virtual Network Operator (MVNO) with more than half a
- AMJ advises on US$1 billion loan to the government of Oman
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AMJ acted as Oman Counsel for the lenders on a syndicated loan of US$1billion to government of Oman in mid-January. Eleven international and regional banks participated in the five-year loan sought to cover part of an OMR3.3 billion deficit in the state budget caused by the decline in oil revenues. The syndicate includes Citigroup, Gulf
- AMJ advises on US$110mn share acquisition in Oman Cables
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AMJ’s Corporate and Capital Markets team recently acted for the Prysmian Group/Draka Holdings on its acquisition of approximately 16% additional shares in OCI, increasing the existing stake held by its fully-owned subsidiary, Draka Holdings BV to just over 51%. The US$110 million deal gives the Prysmian Group, a world leader in the energy and telecom
- AMJ advises on Oman PPP framework
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AMJ has been appointed together with Ernst & Young and Squire Patton Boggs in a consortium to advise the Omani government in setting up a public private partnership (PPP) unit, developing a regulatory framework and exploring options for PPP procurement.The consortium is tasked with exploring a range of PPP models and developing a first draft
- AMJ advises on Oman’s debut sovereign sukuk
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AMJ acted as Oman Counsel to Bank Muscat as issue manager and joint lead manager with Standard Chartered Bank on the first-ever sukuk offering by the Omani Government. The OMR200 million (US$517.17 million), 5-year benchmark sovereign sukuk issuance was oversubscribed close to 1.7 times, attracting 22 orders totalling OMR336 million (US$869.75 million) from a wide
- AMJ advised on Phoenix Power’s IPO
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AMJ advised Phoenix Power Company, owner of the Sur IPP, Oman’s largest power plant, on its recent IPO which raised OMR56.3 million ($146.3 million) through the public offering of a 35% stake (511,910,511 shares) open to individual and institutional Omani and foreign investors. The flotation, which closed on June 8, was Oman’s first this year
- AMJ advises on US$195mn Duqm project
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AMJ’s Corporate and Capital Markets team has advised on the establishment of a corporate structure for the US$195 million Duqm Permanent Accommodation for Contractors (PAC) project, a joint initiative by the Special Economic Zone Authority (SEZAD) and Renaissance Services SAOG (Renaissance). The project, the largest of its kind in Oman, is scheduled for completion in mid-2016.