09 Jan 2012
LG has advised EIIB on its investment in Rasmala Holdings Limited
Lawrence Graham has advised leading financial services company European Islamic Investment Bank Plc ("EIIB") on its US$21m investment in Rasmala Holdings Limited.
Rasmala is a leading investment bank operating in the Gulf Cooperation Council (GCC) countries and Egypt and specializes in asset management and investment banking. Rasmala was one of the first regional investment banks to be licensed by the Dubai Financial Services Authority with expertise and relationships in the region maintained through its regulated subsidiaries in the UAE, Saudi Arabia, Egypt and Oman.
EIIB specialises in the GCC, Levant and North Africa region with strong distribution capability, privileged deal flow, long term investor relationships and Islamic financing capability. It is listed on the London Stock Exchange's Alternative Investment Market. EIIB is a new client for Lawrence Graham and was advised by partner and head of Middle East corporate Tim Casben, Roopal Jobanputra and Ciara Howie who are all based in the firm's Dubai office.
Tim Casben said: "We are delighted to have acted for EIIB and hope that this is the start of a longer term relationship with EIIB and Rasmala. We were instructed by EIIB, having acted for their major shareholder, Dubai based HBG Management Partners, during the recent board changes at EIIB".
Mr. Zulfi Caar Hydari, Chief Executive of EIIB said: "Rasmala has a strong regional franchise, and together with EIIB's international capital markets and asset management experience this will be a powerful partnership to exploit current opportunities in the GCC."