Global law firm White & Case LLP has advised Palestine-based Sanad Construction Resources Co. (Sanad) on the investment and participation of Palestine Investment Fund (PIF), through its subsidiary Aswaq for Investment Portfolios Ltd (Aswaq), and the Jordanian company Etihad Al Khamsa For Investment and Development (Unifive), in Jericho Cement Industry Company.
The transaction, which creates a joint venture company, includes a shareholders agreement and a share purchase agreement through which Sanad transferred 50 percent of its shares to Unifive, and ten percent of its shares to Aswaq.
In order to achieve the joint venture's main objective to establish and operate the first advanced technology cement grinding mill in Palestine, White & Case also advised Sanad, Aswaq and the joint venture company on negotiating and concluding a supply agreement with Danish company FLSmidth A/S.
The White & Case team in Düsseldorf which advised on the transaction was led by partner Murad Daghles and included local partner Thyl Hassler and associates Philipp Kynast and Yasmin Mansour. The White & Case team advised on the transaction in cooperation and coordination with Sanad's senior legal manager Ibrahim Al Fares.
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