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Chris Walters

Partner, Head of Middle East Corporate
Partner
Dubai, Africa Group

Chris leads the Middle East corporate team at Herbert Smith Freehills and has been based in Dubai since January 2015.

Chris is regularly involved in award winning and other high-profile M&A transactions, joint ventures, private capital investments and reorganisations that span a number of sectors and territories. In addition to executing transactions in the energy and infrastructure sectors, Chris often advises on digital infrastructure and TMT transactions.

Chris is rated as a “Next Generation Partner” by Legal 500 EMEA 2022-2023 and is ranked as “Up and Coming” by Chambers Global 2023.

Experience & expertise

Selected matters

TMT/Digital Infrastructure

  • Singtel, Deutsche Telekom, e&, SK Telecom, and SoftBank Corp. on their joint venture agreement to establish the Global Telco AI Alliance
  • Zain Group and its subsidiary TASC Towers Holding on their negotiations with Ooredoo to combine their mobile telecommunicators tower portfolios to create the largest independent tower company in the Middle East North Africa (MENA) region
  • Uber B.V. on its $3.1 billion acquisition of Careem, the largest provider of internet-led transportation in the Middle East. This is the biggest ever technology acquisition in the Middle East
  • Uber B.V.  in connection with e&'s $400m acquisition of a majority stake in Careem’s Super App through the creation of a separate entity, Careem Technologies
  • E& enterprise on its joint venture with Bespin Global and a primary equity investment in Bespin Global
  • E& in connection with a joint venture with Circles.Life to provide services to support the establishment and operation of digital brands by certain operators in the Middle East, North Africa and other jurisdictions utilising Circles technological platform
  • an independent telecommunication towers operator on various tower portfolio acquisitions in the Middle East, North Africa and South East Asia

Energy

  • VTTI in connection with its bid to develop a liquids terminal and logistics facility with ADNOC L&S and AD Ports Group
  • an institutional investment fund manager in connection with its potential acquisition of a minority stake in ADNOC Gas Pipelines
  • a North American exploration, development and production company in connection with its bid for an onshore unconventional block in Abu Dhabi
  • ASMA Capital Partners, acting in its capacity as investment manager for the IDB Infrastructure Fund II, on its $75 million pre-IPO investment into Brooge Petroleum and Gas Investment Company FZE (BPGIC), through the purchase of convertible notes issued by BPGIC's UK based parent company
  • Axia Power Holdings (wholly owned by Marubeni Corporation) in relation to the partial sale of its interest in the award-winning Fujairah F3 gas-fired power project
  • a confidential client in relation to the disposal of multiple gas fired power plants in Pakistan by way of a competitive auction

Infrastructure

  • a giga project company on the formation of four separate joint ventures in KSA in the logistics, digital media, robotics and agriculture sectors
  • Egis S.A. on the acquisition of WME Engineering Services, a multi-disciplinary engineering consultancy operating in Dubai, Abu Dhabi, Riyadh, Bangalore, and Mumbai
  • Dr. Soliman Abdel Kader Fakeeh Hospital Company in relation to the acquisition of Rana Medical Services Company, the owner and operator of Rana Medical Center in Riyadh, the Kingdom of Saudi Arabia
  • Amanat Holdings PJSC on the acquisition of a 69.3% shareholding in Royal Maternity Hospital Holding in Bahrain, the company that owns and operates The Royal Hospital for Women, from Venture Capital Bank
  • Amanat Holdings PJSC on the acquisition of Middlesex University's Dubai campus from Abraaj Capital
  • a consortium of international investors on their proposed acquisition of the Majid Al Futtaim Group's district cooling assets in the UAE, KSA, Oman and Egypt, by way of a competitive auction process
  • one of Bahrain's largest investment managers on the acquisition of a portfolio of logistics related real estate businesses based in various onshore and offshore zones in Dubai
  • Qannas Investments Limited, a closed-ended investment company whose shares are admitted to trading on AIM, on its proposed acquisition of a portfolio of assets and liabilities from a consortium of UAE investors to be completed by way of a reverse takeover under the AIM Rules

General M&A

  • Aramex, a leading listed logistics provider, on the disposal of Infofort, a multi-jurisdictional part of its group by way of a competitive auction process
  • Abu Dhabi Financial Group on its successful merger with SHUAA Capital PSC, creating one of the largest financial services providers in the Middle East
  • UEM Edgenta Berhad, a leading provider of asset management and infrastructure solutions across Asia and the Middle East, on the acquisition of a 60% stake in KAIZEN Group's asset management services
  • Abu Dhabi Financial Group in connection with its proposed acquisition of Abraaj's investment management business, which included Abraaj's rights and obligations in respect of a number of funds focused on growth markets such as Africa, Asia, Latin America, the Middle East and Turkey
  • Marubeni on its acquisition of 25% stake in Lunatus Marketing & Consulting, a pharmaceutical and medical device company based out of the United Arab Emirates and operating across the Middle East (Saudi Arabia, Bahrain, Jordan, Kuwait, Oman, Qatar)
  • a subsidiary of International Holding Company (IHC) on its acquisition of 75% of Abu Dhabi Vegetable Oil Company (ADVOC)