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Wednesday, November 11 - 2009

Freshfields advises Goldman Sachs International on proposed merger of Emirates Bank International and National Bank of Dubai

  • United Arab Emirates: Sunday, July 15 - 2007 at 08:54
  • PRESS RELEASE

Emirates Bank International and National Bank of Dubai have announced the terms of their proposed merger to create Emirates NBD, with a combined market capitalisation of approximately AED 41.3 billion/USD11.3 billion.

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The proposed merger is intended to be effected by establishing a new company, to be named Emirates NBD, which will offer to acquire the share capital of Emirates Bank International and National Bank of Dubai in exchange for new shares, the first public takeover offers for companies listed on the Dubai Financial Market.

Freshfields Bruckhaus Deringer is advising Goldman Sachs International, which is acting exclusively as the lead financial adviser to the joint steering committee of Emirates Bank International and National Bank of Dubai established in connection with the proposed merger.

The Freshfields team is being led by partners Bruce Embley in Dubai and Edward Braham in London, assisted by senior associates Graham Watson and Aryan Schoorl in London and Dubai respectively.

Bruce Embley said:

"We are delighted to be advising Goldman Sachs International on this landmark transaction to create a UAE banking champion and the GCC's largest bank by assets."
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Freshfields Bruckhaus Deringer* is a leading international law firm providing a comprehensive worldwide service to national and multinational corporations, financial institutions and governments.

* 474 partners and principal consultants, 2509 total lawyers worldwide, 27 offices in 16 countries.

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