TLA represents Kaleida Holdings, NMC and Fakih IVF


The law firm of Tribonian Law Advisors (“TLA”) announced that it has represented Kaleida Holdings S.A. (“Kaleida Holdings”), the holding company owning citrussTV, the Arab world’s first dedicated home shopping TV channel and the premier full-media retail destination in the Middle East and North Africa, in the issuance of shares to Global Home Shopping Co., Ltd. (“GHS”), one of China’s largest full-media retail platforms. Post completion of the transaction, GHS has become the majority shareholder of Kaleida Holdings. “We are thrilled to welcome GHS as a strategic partner in citrussTV. I feel that after 12 years of hard work building our company, now is the time for us to expand our capabilities by leveraging access to GHS’ knowhow, technology and expertise.” said Nicolas Bruylants, co-founder of citrussTV.

Carlo Pianese, partner at TLA, commented, “We are very pleased to have acted as lead counsel to Kaleida Holdings. We believe that this transaction will be very fruitful to citrussTV by partnering with a successful and established TV shopping player which has built a vast network in one of the world’s biggest markets.”

The TLA team was led by the firm’s partner, Carlo Pianese, who was assisted by associates Maryline Kalaydjian and Shiladitya Majumdar.

The firm also represented NMC Health PLC (“NMC”), the leading integrated healthcare provider operating across the United Arab Emirates, and Fakih IVF LLC (“Fakih IVF”), one of the leading fertility clinics in the Middle East, in the acquisition by NMC of the outstanding 49 per cent minority stake in Fakih IVF at approximately the same Enterprise Value as the original acquisition cost set in 2015. The acquisition is being settled in the form of cash and newly issued shares in NMC with a total consideration of USD 205 million. In addition, Dr. Michael Fakih will retain his role as a medical director in Fakih IVF and continue his practice as a medical doctor.

With Fakih IVF now a wholly owned subsidiary of NMC, the Company is better positioned to accelerate and expand growth globally within its fertility business. NMC will continue to expand its fertility network, from the new IVF clinics opened in UAE and Oman in 2017 and additional expansions planned in other geographies, particularly KSA, to maintain a market leading position.

Rindala Beydoun, managing partner at TLA, commented, “We are very proud to have acted once again as transaction counsel to NMC Health and Fakih IVF. This transaction has certainly boosted TLA’s strong position as a regional M&A law firm and our solid track-record in the healthcare sector.”

The TLA team was led by the firm’s managing partner, Rindala Beydoun and partners Carlo Pianese and Emile Boulos, who were assisted by associates Celine Bsaibes, Maryline Kalaydjian and Shiladitya Majumdar.


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