GLA & Company acted as local Kuwait counsel in advising Italian Mapei S.p.A. on its acquisition of 100% of the shareholding in Saudi-based Bituminous Products Limited Company (“Bitumat”) on various matters including the restructuring of Bitumat’s operations in Kuwait as well as  securing merger control clearance from the Kuwait Competition Protection Agency.

Mapei is an Italian-based leading global manufacturer of adhesives, sealants, and other chemical products for the building industry and has a long history of supplying many significant projects across the Middle East. The transaction is valued at approximately USD63.5 million and comes on the heels of Mapei’s consistent global growth strategy with a view to extending its international footprint through its range of products and solutions for the construction industry.

Bitumat is engaged in the manufacture and sale of waterproofing and thermal insulation products including synthetic and bituminous membranes with manufacturing facilities located in Dammam, Saudi Arabia. In addition to Saudi Arabia, Bitumat has activities in Kuwait, Bahrain, and Oman. Although its presence is largely concentrated in the GCC countries, Bitumat also operates around the world in the Asia-Pacific region, Africa, and South America.

Alex Saleh, Managing Partner, commented that “we are proud to have acted as local Kuwait counsel in advising Italian Mapei S.p.A. on its acquisition of Bitumat. Our involvement in efficiently securing merger control clearances for clients worldwide across various sectors further demonstrates GLA’s leading position in the market of legal service providers, particularly in the antitrust and merger control sphere in Kuwait and across the GCC and MENA regions. This transaction exemplifies our commitment to providing top-tier legal counsel to our clients in complex international business matters.”

The GLA & Co team was led by Dr. Julian Awwad, Legal Director, and supported by Senior Associates, Asad Ahmad and Mohammed Al Awadhi, and Associate Khaled Al Makhezeem.

For more information on the transaction, please see here.