12 Jan Informa and Tahaluf agree to strategic joint venture
Two essential Middle Eastern companies have recently joined hands to create an opportunity for economic growth within the region.
Global law firm Clyde & Co advised Informa Middle East Limited on the sale of a stake in its subsidiary, Tahaluf Events Limited to the Events Investment Fund (EIF) and Union Company For Exhibitions and Conferences to create a strategic joint venture.
This joint venture between the Union, which is owned by the Saudi Federation for Cyber Security, Programming and Drones (SAFCSP) supports the Kingdom’s Vision 2030 of diversifying the economy.
Tahaluf plans to leverage Informa’s global expertise to grow the events sector in Saudi Arabia which will further advance economic diversification, provide access to new markets for international businesses, attract foreign investment and support modernisation of business activity.
Tahaluf will also replace Informa’s existing operations in Saudi Arabia.
Clyde & Co acted as lead counsel to Informa on this strategic deal and was led by partner Rizwan Osman who said of the venture: “We are delighted to act as lead counsel on this significant joint venture, which is focused on stimulating growth in the Kingdom’s key economic sectors through developing world-class events in Saudi Arabia.”
