Steven Worthington

Partner, Abu Dhabi, London

Biography

Overview

Steven is a partner based in Abu Dhabi and London.

Steven leads the Firm's corporate and private equity practice in Abu Dhabi and has extensive experience advising both corporates and financial sponsor clients on a range of complex cross-border acquisitions, divestitures, joint ventures, leveraged buyouts and public offerings.

Bars and Courts
Solicitor (England and Wales)
Education
Oxford University
M.A.
Languages
English

Experience

Representative transactions include advising:

Portman Global Partners Limited on its establishment of a joint venture with Abu Dhabi Catalyst Partners.

Kentech Corporate Holdings Limited, an investee company of leading energy investment firm Blue Water Energy, on its agreement to acquire the oil & gas business of SNC-Lavalin Group Inc.'s Resources Division. SNC-Lavalin Group Inc. is a Canadian publicly listed entity (SCN:CN).

Abu Dhabi Catalyst Partners in its participation in the Series B Funding round for Securrency, Inc.

ADQ, the Abu Dhabi sovereign wealth fund, on its proposed acquisition of an indirect interest (c. 45%) in Louis Dreyfus Company B.V., one of the world's leading commodities trading companies.

Mubadala, the Abu Dhabi sovereign wealth fund, on its acquisition, alongside Kohlberg & Company, of PCI Pharma Services ("PCI") from Partners Group and Frazier Healthcare Partners.

A FTSE 100 listed speciality chemicals company on its sale of a Finnish chromatographic resin producing company, to a Purchaser whose ultimate parent company is listed on the Tokyo Stock Exchange.

A global sales, broadcast production and distribution arm of world tennis, in the establishment of a new joint venture structure for the exploitation and monetisation of certain data licensing arrangements relating to tennis.

A global financial institution and a private equity firm in Russia, on their buy-out of the majority shareholder in a Russian online comparison website business for insurance, loans, mortgages, etc.

A portfolio company of a Saudi based sovereign wealth fund in its joint venture with a luxury hospitality group, in relation to the launch of a new super luxury cruise line.

An ADGM based fund on its US$50m Series F investment into a West Coast tech business with a valuation in excess of US$1bn.

EWEC on the corporate aspects of the Fujairah F3 Independent Power Project.

A local Abu Dhabi based family office on its co-investment with Mubadala in Jio Platforms Limited.

Game Lounge Sweden AB, an affiliate of Bridgepoint, in its acquisition of 100% of the share capital of Panorama Partners, a company incorporated in England which owns and operates the online-based platform Bettingmetrics, which collects, analyses and shares the betting data of its users and connects its users to a number of bookmakers.

Alvogen Inc., a global generic pharmaceuticals company and portfolio company of CVC Capital Partners, on the sale of Alvogen's CEE business to Zentiva.

Inflexion Private Equity Partners and its portfolio company Ocorian on their leveraged buyout of Bridgepoint's portfolio Estera group of companies;

Avast on its sale of a 35% interest in Jumpshot to Ascential;

A global communication advisory firm on the repurchase of 49% of its UAE headquartered global strategy and consulting business;

CVC in connection with its Euro 3 billion acquisition of Fimei S.p.A., an Italian holding company controlling approximately 51.8% of Recordati S.p.A;

ATP Media, the media arm of the ATP Tennis Tour which controls the sales, production and distribution of all of the media rights of the ATP Tennis Tour, on its corporate and tax restructuring and the re-negotiation of certain key and complex commercial contracts relating to the same;

Rhône on its investment in VistaJet, which valued VistaJet in excess of US$2.5 billion;

Bridgepoint on its acquisition of Zenith Group from HgCapital and its acquisition of Contract Vehicles Holdings Limited Group from its shareholders;

The Smithfield Group LLP on its sale of Innovia Group;

Keter Group, the world's largest producer of quality resin consumer products on the acquisition by BC Partners Ltd and the Public Sector Pension Investment Board of a majority stake in the group from the Sagol family. The transaction is the biggest ever LBO in Israel and has been described as the "deal of the decade" in the Israeli press;

Qatar Holding LLC on the carve-out of The Savoy Hotel from a wider transaction concerning QIA and Kingdom Hotels' sale of the Fairmont, Raffles and Swissôtel brands to AccorHotels;

GHO Capital on its acquisition of EnvisionPharma, a medical communication and software company;

Triton on the combination of DSI (Triton's construction, mining and tunnelling products portfolio company) with Jennmar (a Pittsburgh family owned mining products company).

Paradise Capital (the Sallam family's investment office) on the disposal of 30% of its interest in B-Tech, one of Egypt's leading retailers and distributors of house hold appliances and consumer electricals to African Development Partners (a subsidiary of DPI);

A leading US pharmaceutical company on its corporate reorganisation to establish a centralised IP and strategic decision making function in Malta;

PIMCO on the establishment of a joint venture vehicle with Oaktree for the subsequent acquisition of a stake in Echo Investment;*

Cerberus on the £2.5bn acquisition of Capital Homes Limited;*

The Attachmate Group, Inc. (a consortium of US-based financial sponsors) on the £1.2bn reverse takeover of Micro Focus International plc;*

Friends Life Group on the £316m disposal of Lombard International to The Blackstone Group and its subsequent share buy-back programme;*

The Royal Bank of Scotland plc on the £15bn disposal of its structured investor products and equity derivatives business to BNP Paribas S.A.;*

Julius Baer Group Ltd. on the US$840m acquisition of Merrill Lynch & Co. Inc.'s non-US private wealth management business;*

Lloyds TSB Bank plc on the disposal of its onshore banking business in the UAE to HSBC Bank Middle East Limited;*

Qatar Holding LLC on the €600m acquisition of Smeralda Holding, a luxury resort portfolio on the Costa Smeralda, Sardinia, from Colony Capital LLC;*

International Bank of Qatar Q.S.C. on the disposal of the corporate aspects of al yusr, its Islamic banking operations in Qatar, to Qatar Islamic Bank Q.S.C. and the disposal of the retail aspects of al yusr to Barwa Bank Q.S.C.;*

Qatar Investment Authority on the recapitalisation of Chelsfield Partners LLP;*

The Royal Bank of Scotland N.V. on the disposal of its UAE based International Diamond & Jewellery Group business to ABN Amro (Hong Kong Branch);* and

IDB Infrastructure Fund L.P. on the disposal of its indirect 23.381% interest in AES Jordan, which owns and operates a 370MW dual fired combined cycle gas power plant in Jordan, to Qatar Electricity & Water Q.S.C.*

*Indicates experience prior to joining White & Case

Awards and Recognition

"Rising Star" – Next generation of private equity talent (London), Legal Week 2018