Haya Rashed Al Khalifa Attorneys advises RA Holding Corp. and the other sellers in the US$365,000,000 sale of their half-ownership stake in Lusail Golf Development
November - 2014
Haya Rashed Al Khalifa Attorneys acted as Bahraini legal counsel to RA Holding Corp. and other sellers in the sale of their half-ownership stake in Lusail Golf Development to their joint venture partner Barwa Real Estate Company Q.S.C. Net proceeds of the sale are estimated at approximately $365 million. Lusail Golf Development is a proposed 3.6 million-square-meter master-planned development that calls for low and medium density residential zones, as well as a boutique hotel, retail village, golf course and club and more.
RA Holding is the entity that was formed during the successful 2013 reorganization of Arcapita Bank B.S.C. and certain of its affiliates. Haya Rashed Al Khalifa Attorneys advised Arcapita's official committee of unsecured creditors during its Chapter 11 case and now represents RA Holding and its worldwide affiliates. Haya Rashed Al Khalifa Attorneys work on Arcapita was recognized among The American Lawyer's Global Awards for 2014 and the ASEAN-MENA Counsel, Deal of the Year Awards of 2013.
This transaction further illustrated the absolute confidence that major financial institutional clients have on Haya Rashed Al Khalifa’s expertise in Financial Transactions. Partners Ronald Langat and Parween Abdulrahman advised on this matter.