News & Insights


January 19, 2022

King & Spalding Advises on Islamic Finance News’ 2021 Cross-Border and UAE Deal of the Year

DUBAI, Jan. 19, 2022 — Islamic Finance News (IFN) has named a deal handled by King & Spalding its Cross-Border and UAE Deal of the Year for 2021.

King & Spalding was recognized for its role on the sale of iKcon Restaurant LLC to REEF Technology Inc. (“REEF”). This transaction represents the sale of iKcon’s entire UAE-based business and marks REEF’s first major transaction in the Middle East and North Africa market and is part of its broader strategy to expand globally. It is also one of the largest deals ever for a start-up company in the Middle East by an investor outside the Middle East. 

The King & Spalding team advising iKcon included Nabil A. Issa (Dubai) and Linda Lorenat (Silicon Valley). John Taylor (London) provided tax advice, and Mohammed AlAmmar (Riyadh) and Turki Radain (Riyadh) on competition law issues in Saudi Arabia. AlAmmar and Macky O’Sullivan (Dubai) also advised Nazer Group, a shareholder in iKcon, with respect to the transaction. 

About King & Spalding
Celebrating more than 130 years of service, King & Spalding is an international law firm that represents a broad array of clients, including half of the Fortune Global 100, with 1,200 lawyers in 23 offices in the United States, Europe, the Middle East and Asia. The firm has handled matters in over 160 countries on six continents and is consistently recognized for the results it obtains, uncompromising commitment to quality, and dedication to understanding the business and culture of its clients. More information is available at