Clyde & Co LLP have successfully concluded the MENA region aspects of the sale of Motorola's worldwide networks assets to Nokia Siemens Networks (NSN) for USD 975million. The sale involved the transfer to NSN of 6,900 employees and responsibility for 50 operator customers in 52 countries. The deal, which was announced in July 2010, formally completed in the second quarter of 2011.
A multidisciplinary team at Clyde & Co advised on the corporate, tax, regulatory and employment issues in the UAE, Saudi Arabia, Bahrain, Kuwait, Oman, Lebanon, Egypt, Jordan, Morocco and Pakistan.
The team consisted, primarily, of Corporate partner, Jonathan Silver, together with Senior Associates, Claudine Favali (Corporate) and Sara Khoja (Employment and Incentives) and Associates, Munisha Khatwani (Corporate), Noor El Shunnar (Employment and Incentives) and Shahbaz Khan (Corporate).
International corporate legal aspects of the deal were handled by Baker & McKenzie and Winston & Strawn. International employment aspects were handled by Levenfeld Pearlstein.
Commenting on the transaction, corporate partner and head of Clyde & Co's regional practice, Jonathan Silver said;
"We are very pleased to have brought this significant transaction to a successful conclusion. The Project involved complex and, at times, challenging technical and regulatory issues in multiple jurisdictions that utilised the strengths of our corporate and employment groups to the full. It demonstrates both the breadth of our corporate capabilities and our ability to support our clients in overcoming key technical issues in high profile cross border deals.
This was a particularly pleasing result, coming on the heels of the successful completion of the worldwide separation of Motorola's mobile devices and home businesses to form separate groups. The same corporate team advised Motorola Solutions, Inc. on all of the regional aspects of that separation."