Rahat Dar
Senior Associate, Dubai Office
Email Rahat Dar
Mr Dar joined Afridi & Angell in 2011. His practice includes banking and finance, mergers and acquisitions, and general corporate matters. He has advised companies and financial institutions on a range of financing transactions, including conventional and Islamic finance. He has extensive experience of working with bank Shari’a and Fatwa supervisory boards, and independent Shari&rsq
Mr Dar joined Afridi & Angell in 2011. His practice includes banking and finance, mergers and acquisitions, and general corporate matters. He has advised companies and financial institutions on a range of financing transactions, including conventional and Islamic finance. He has extensive experience of working with bank Shari’a and Fatwa supervisory boards, and independent Shari’a scholars, in structuring a variety of Islamic financing transactions (including Istisna’a, Ijara, Murabaha, Musharaka and Mudaraba). Mr Dar has also advised local and overseas companies on a range of corporate and capital markets transactions including cross-border acquisitions, disposals, joint ventures, distribution and IPOs.
Prior to joining Afridi & Angell, Mr Dar worked as a corporate associate in the London offices of Hogan Lovells and Dorsey & Whitney, where he advised on a wide range of international mergers and acquisitions, IPOs and secondary offerings in the US and the UK (AIM and the Official List).
His notable transactions include:
Banking and Finance
- Advised the Government of Sharjah on a KWD 30 million term loan facility.
- Advised Abu Dhabi Commercial Bank on the restructuring of its AED 1.1 billion term loan facility to a local property developer.
- Advised the Sharjah Electricity and Water Authority on a US$350 million syndicated facility, US$250 million dual-tranche facilities (Term Loan and Master Murabaha), and the restructuring of US$150 million Islamic facilities.
- Advised Malabar Gold and Diamonds on an AED 300 million multicurrency term loan facility.
- Advised a syndicate of Islamic banks on AED 290 million dual-tranche facilities (Term Loan and Master Istisna’a / Master Ijara), to finance the building of a new hospital and medical university.
- Advised a syndicate of banks on the restructuring of AED 295 million dual-tranche facilities (Term Loan and Ijara) to three UAE companies.
- Advised Ajman Bank on the restructuring of its AED 75 million Islamic tranche facility (part of a Term Loan and Master Sukuk Murabaha dual-tranche facility) to a European company.
- Advised a syndicate of banks (including an Islamic bank) on AED 254 million dual-tranche facilities (Term Loan and Master Sukuk Murabaha) to finance the construction of a hotel in Dubai.
- Advised a syndicate of banks on a US$75 million and an AED 55 million dual-tranche facilities (Term Loan and Master Sukuk Murabaha) to finance the construction of a PTP plant in Belgium.
- Advised a syndicate of banks on an AED 150 million term loan and an AED 195 million revolving working capital facility to Dubai Wire FZE and Global Fasteners Limited.
- Advised various banks including Abu Dhabi Commercial Bank, Emirates NBD, Noor Islamic Bank, Al Hilal Bank and National Bank of Fujairah on ship financing transactions.
Mergers and Acquisitions
- Advised a BVI company on the proposed sale of its coal mining operations in Indonesia to the investment arm of the government of Ras Al Khaimah, for a combined consideration of US$150 million.
- Advised Allied Healthcare International Inc. on its US$73 million acquisition of Southern Cross Healthcare Group and its US$18 million acquisition of Midland Healthcare Limited.
- Advised CintiTech AG on its £30.5 million acquisition of Thermopol International Limited (a high-performance silicon producer with operations in the UK, USA, Norway and Korea).
Capital Markets
- Advised the Damac Group on its US$1.2 billion IPO of global depositary receipts on the main market of the London Stock Exchange.
- Advised the Damac Group on its IPO on the Dubai Financial Market.
- Advised Indian property developer Ishaan Real Estate plc on its £207 million IPO on AIM.
- Advised mining company Noventa Limited on its £8 million IPO on AIM.
- Advised the Local Radio Company plc and Taylor Nelson Soferes plc on their "cashbox placing", raising an aggregate of £14.8 million.
AREAS OF EXPERTISE
- Banking and Financial Services
- Islamic Finance
- Mergers and Acquisitions
- Capital Markets
- Infrastructure and Project Finance
- Corporate and Commercial
QUALIFICATIONS AND ADMISSIONS
- Law Society of England and Wales
EDUCATION
- MA in Law (Banking and Capital Markets), University of Westminster, 2003
- LLB, University of Leicester, 2001
LANGUAGES
PUBLICATIONS