King & Spalding (K&S) has represented companies in two major financings of late – GulfCap Group’s US$446 million acquisition of Dalma Energy and Pramerica Real Estate Investors’ Shariah compliant majority stake buy in the European Business Center, worth US$110 million.
Pramerica’s debut Middle Eastern financing was funded by the Hypo Real Estate Bank International, and structured Islamically by K&S on a non-recourse basis, while the Dalma Energy acquisition marked the firm’s fifth major Middle Eastern transaction in two months – totalling US$1 billion.
Partner Jawad Ali led the K&S team in both transactions. (See Islamic Finance news, Vol. 4, issue 27 for a Meet The Head feature on Jawad.)