GameroBravo Abogados advises on the creation of Spanish-Qatari Joint Venture

IBERIAN LAWYER has published the advisory provided by Gamero & Bravo Abogados to Watad Group Enterprises and La Línea Vertical on the creation of Spanish-Qatari JV to operate in the Persian Gulf.

“La Línea Vertical (LLV) has announced the agreement with Watad Group Enterprises for the creation of a Joint Venture that will provide services in the Persian Gulf for work at height and difficult access through the application of the most advanced techniques in rope positioning.

Both companies have created a company in Qatar, called Vertical Line, owned 51% by Watad Group Enterprises and 49% by LLV. Vertical Line will operate mainly in sectors such as engineering and infrastructures, mainly in Qatar.

This alliance combines the leadership and international growth of the Cadiz-based company, which applies the safest rope access techniques in the sector, and the in-depth knowledge of Watad Group Enterprises, as a local partner, of the Persian Gulf industry, especially Natural Gas, a market with enormous potential.

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Gamero & Bravo advised both parties on the creation of the Spanish-qatari Joint Venture located in the Persian Gulf, on the drafting and mediation in the negotiation of the various contracts (Business Development Agreement, Shareholders Agreement, NDA, etc.) and articles of association. The firm´s advice was aimed at defending the interests of the project over the individual interests of the parties, ensuring the conclusion of balanced contracts for both parties.”