United Arab Emirates: M&A/Private Equity

In addition to our previous article, which discussed the procedures for initiating and serving claims within the ADGM, both within the UAE and internationally, this article further outlines the process of answering a claim in the ADGM Courts.

On 28 September 2023, a new federal law regulating competition, Law No. 36 of 2023 (the "New Competition Law"), was issued, repealing Law No. 4 of 2012 (the "Old Competition Law").

The Competition Department at the UAE Ministry of Economy & Tourism has launched its first enforcement actions under the country's updated competition regime, referring several poultry companies to the Federal Public Prosecution for alleged price-fixing and coordinated conduct. The investigation revealed that companies aligned pricing strategies during exceptional circumstances, resulting in unjustified price increases for consumers of this essential commodity subject to strict price controls.