Allen & Overy is advising Souq Group Ltd. (Souq) and certain of its shareholders on the sale of the entire issued share capital of Souq to Amazon.com, Inc. (Amazon). Souq, headquartered in Dubai, UAE, is the largest e-commerce vendor in the MENA region with over 3,000 employees and a full-scale fulfilment, payments and “last mile” delivery infrastructure in several key regional jurisdictions.

The transaction is the largest technology-related M&A transaction in the Arab world to date and highlights a maturing of the e-commerce sector in the region.  

Corporate partner David Foster, who led the A&O team, commented: “This is a significant transaction for the retail sector in the MENA region. We are delighted to have played our part in helping Souq to achieve this milestone”.  

This transaction involved lawyers from across the A&O network, including associates Amr Jaghoub, Emily Lang and Rob Lammiman in Dubai and associates Leen Zaza and Arwa Al Fawzan in Riyadh.  

The transaction is expected to complete in 2017.