Regulatory Challenges in a Cross Border Voluntary Acquisition Offer
Gabriel Khoury, General Counsel and Head of Compliance, Shuaa Capital GMC , UAE
Recently, SHUAA Capital psc (the “Offeror”) was involved in a Voluntary Acquisition Offer (“VAO” or “Transaction”) of a Kuwaiti listed entity (the “Offeree” or the “Target”). Managing the challenges created by such a relatively un-common Transaction requires a fair amount of preparation on multiple levels. This included comprehending the Offeror needs and expectations, the regulatory bodies with their expectations, the cross-borders differences to be catered for by both the Offeror and Offeree, with the aim of ensuring that all business needs were accommodated with minimum disruption.
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