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Share Sale vs Asset Sale

Why a seller or buyer prefers share sale vs asset sale is crucial to making informed decisions in an M&A deal. Introduction Merger and acquisition

In a significant move that underscores the importance of corporate governance and succession planning in the Gulf region, the Government of Dubai has intervened in the affairs of Majid Al Futtaim (MAF) Holding, one of the UAE’s most prominent family-owned conglomerates. 𝗕𝗮𝗰𝗸𝗴𝗿𝗼𝘂𝗻𝗱 Founded in 1992 by Majid Al Futtaim, the group has grown into a powerhouse, operating across retail, hospitality, real estate, and entertainment. Its portfolio includes the Mall of the Emirates, regional rights for Carrefour, and partnerships with Lego and Hollister. With assets at around $19 billion and a workforce of 45,000, MAF is a cornerstone of Dubai’s consumer economy. However, the death of its founder in 2021 triggered a complex succession dispute among his 10 heirs. He left behind a vast business empire and ten heirs, but no clear succession plan. This lack of clarity led to internal disagreements among family members over control, governance, and the future direction of the company. This internal discord raised concerns about the future stability of the group, prompting the Dubai government to intervene. 𝗞𝗲𝘆 𝗜𝘀𝘀𝘂𝗲𝘀: - 𝘐𝘯𝘩𝘦𝘳𝘪𝘵𝘢𝘯𝘤𝘦 𝘢𝘯𝘥 𝘤𝘰𝘯𝘵𝘳𝘰𝘭 Disputes arose over who should control the holding company and its subsidiaries. - 𝘉𝘰𝘢𝘳𝘥 𝘤𝘰𝘮𝘱𝘰𝘴𝘪𝘵𝘪𝘰𝘯 Family members reportedly clashed over appointments to the board and executive roles. - 𝘚𝘵𝘳𝘢𝘵𝘦𝘨𝘪𝘤 𝘥𝘪𝘳𝘦𝘤𝘵𝘪𝘰𝘯 There were differing visions among heirs about how to manage and grow the business. - 𝘌𝘴𝘵𝘢𝘵𝘦 𝘮𝘢𝘯𝘢𝘨𝘦𝘮𝘦𝘯𝘵: The founder’s estate, which includes shares in the holding company, became a focal point of contention. In response to the ongoing family tensions, a special judicial committee—established by the Ruler of Dubai, HH Sheikh Mohammed bin Rashid Al Maktoum—has restructured the governance of MAF’s parent company. The new board now includes five government-appointed members and four family representatives. Despite the intervention, MAF Holding continues to operate under an independent board with strong oversight. This isn’t the first time HH Sheikh Mohammed bin Rashid Al Maktoum has stepped in. In the 1990s, he mediated a dispute between Majid Al Futtaim and his cousin, which led to the founding of the current MAF Group. This underscores the HH Sheikh Mohammed bin Rashid Al Maktoum commitment to economic continuity and conflict resolution. 𝗪𝗵𝘆 𝗜𝘁 𝗠𝗮𝘁𝘁𝗲𝗿𝘀 This intervention highlights a broader issue in the Gulf: the vulnerability of family-owned businesses during generational transitions. With over 80% of the region’s non-oil GDP driven by such enterprises, ensuring smooth succession is vital for economic resilience. The restructuring also reflects Dubai’s proactive approach to safeguarding strategic assets and maintaining investor confidence. MAF’s recent dip in earnings—attributed to lower retail revenues and currency devaluation—may have further underscored the need for stronger governance.
Dubai Steps In: The Restructuring of the Majid Al Futtaim Group
In this week’s THINC Tank, we explore what Disney coming to Abu Dhabi means beyond the magic: job creation, real estate impacts, tourism boosts, and cultural integration. With Yas Island as its home and Miral at the helm, this won’t be a copy of other Walt Disney Parks & Resorts. It’ll be a regional-first, complete with local flair, Emirati storytelling, and a sustainability-first mindset. Let's also reflect on why projects like this matter so much to the #economy, and how strategic public-private partnerships can shape long-term growth. How can Disney’s arrival tie into urban planning, tourism, and even legal models for foreign collaborations? Let me know what you think, and whether you’ll be lining up at the gates once it opens!
Disneyland Comes to Abu Dhabi
Released in 1994, Andaz Apna Apna wasn’t a box office hit at first. But over the years, it became a cult phenomenon—thanks to its unforgettable characters like Amar, Prem, and Crime Master Gogo, and catchphrases that we all grew up with - most of these aren’t just lines or songs —they’re part of India’s cultural lexicon. Fast forward to 2025. The film was re-released in theatres, and with it came a flood of unauthorised merchandise—T-shirts, mugs, AI-generated art, even domain names like ailaouima.com. The producers’ legal heirs, led by Shanti Vinay Kumar Sinha, took action to stop this unauthorised use. In a landmark ruling, the Delhi High Court issued a John Doe order—an ex-parte injunction restraining 25 known and unknown entities from using the film’s IP without permission Justice Amit Bansal recognised the film’s characters, dialogues, and even its style as protectable trademarks and copyrighted works. This is more than just a win for one film. It’s a wake-up call for the Indian entertainment industry. Bollywood has long been a global cultural force, but its IP enforcement has lagged behind the times. This ruling affirms that iconic characters and catchphrases can—and should—be protected like any other brand asset. What’s especially notable is the court’s inclusion of AI-generated content in the injunction. Platforms like Flipkart, Etsy, and YouTube were ordered to delist infringing products. Even domain registrars like GoDaddy were asked to disclose seller data This sets a powerful precedent: platforms are no longer passive intermediaries. They’re now expected to be proactive allies in protecting creative rights. And for creators, it’s a reminder to register your IP, monitor its use, and act decisively when it’s misused. As Bollywood evolves in the digital age, so must its legal frameworks. This case is a milestone in that journey. If you’re a creator, lawyer, or just a fan of Indian cinema, I’d love to hear your thoughts. Drop a comment, share this post, and let’s keep the conversation going. A shout out from THINC - The In-House Company to ALMT Legal Law Firmegal that reported this in detail. #BollywoodIP #AndazApnaApna #DelhiHighCourt #DigitalRights #AIandLaw #EntertainmentLaw #LinkedInVideo
Bollywood Battle
UAE Divorce Framework for Expatriates: What You Need to Know Divorce in the UAE can look very different depending on your background, religion, and where you work. In this video, I break down the evolving legal landscape for expatriates navigating divorce—whether you're a Non-Muslim, Muslim, or part of a mixed-faith couple. 🔹 For Non-Muslim Expats You now have options: apply your home country’s personal status law or default to UAE law under Federal Law 28/2005. If you're based in DIFC or ADGM, you may also opt for English common law courts—especially relevant for financial claims and asset division. 🔹 For Muslim Expats Divorces are governed by Sharia-based Federal Law 28/2005. This includes mandatory conciliation efforts, specific grounds for divorce, and post-divorce obligations like the “iddah” period. However, since 2023, a no-fault regime under Federal Decree-Law 41/2022 allows either spouse to file without assigning blame. 🔹 Asset Division & Custody Under Sharia: Each spouse retains individually titled assets. Custody typically goes to mothers for young children, with guardianship remaining with fathers. Under Civil Law: Courts aim for equitable outcomes, often favoring joint custody and considering the child’s best interests. 🔹 Key Takeaways ✔️ Jurisdiction choice can significantly impact outcomes ✔️ Pre-nuptial agreements matter ✔️ Legal advice is essential—especially for cross-border assets and custody issues for Non-Muslim Expats #UAEFamilyLaw #ExpatDivorce #LegalInsights #FamilyMatters #LinkedInVideo
UAE Divorce Framework for Expatriates: What You Need to Know
Standish v Standish This case could redefine how matrimonial and non-matrimonial assets are treated in divorce proceedings. Let's get into it! On April 30, 2025, the UK Supreme Court began hearing the appeal of Standish v Standish. The core issue? Whether £80 million in assets transferred by Mr. Standish to Mrs. Standish before their divorce should be considered matrimonial (shared) or non-matrimonial (ring-fenced) property. I explain the facts of the case in this video. The Supreme Court's judgment is eagerly awaited. It will clarify when non-matrimonial assets can be subjected to the "sharing principle," a concept established in the landmark case of Miller v Miller; McFarlane v McFarlane (2006). This principle dictates that matrimonial property should be divided equally between spouses, but there's been ambiguity around non-matrimonial assets. In White v White (2000), an earlier landmark decision in English family law, the House of Lords emphasised fairness and non-discrimination in asset division, setting a precedent that the name on the asset shouldn't determine its division. This case laid the groundwork for the sharing principle. It involved a couple, Martin White and Pamela White, who were both farmers and married in 1961. They continued farming in equal partnership after their marriage, and their farming business was a tremendous success. They acquired more assets, including Rexton Farm, which were held jointly. Following the breakdown of their marriage, Pamela White petitioned for divorce in 1994 and applied for ancillary relief. The judge found that the net assets were £4.6 million, of which £1.5 million belonged to Pamela White. Despite all assets being jointly owned, the simplest solution proposed by Pamela White was to share the assets to enable them to continue farming but as sole traders, not in partnership. The Supreme Court's decision in Standish v Standish will have far-reaching implications for pre-nuptial planning and intra-spousal transfers. It will provide much-needed guidance on how non-matrimonial assets should be treated in divorce proceedings, potentially influencing future cases and financial settlements. Special thanks to Stewarts for their detailed coverage of this case. Thanks for watching THINC Tank!
Standish vs Standish
Let’s explore another avenue of my favourite topic, AI - today we're diving into the fascinating world of AI-generated art and the viral trend known as the "Ghibli effect." 𝗧𝗵𝗲 𝗠𝗮𝗴𝗶𝗰 𝗕𝗲𝗵𝗶𝗻𝗱 𝘁𝗵𝗲 𝗚𝗵𝗶𝗯𝗹𝗶 𝗘𝗳𝗳𝗲𝗰𝘁 Imagine transforming your photos, text descriptions, or even videos into the enchanting art style of Studio Ghibli, the legendary Japanese animation studio founded by Hayao Miyazaki. This trend has taken social media by storm, allowing users to create stunning, Ghibli-inspired artwork with just a few clicks. Let's explore the legalities around this. 𝗧𝗵𝗲 𝗖𝗼𝗻𝘁𝗿𝗼𝘃𝗲𝗿𝘀𝗶𝗲𝘀 𝗮𝗻𝗱 𝗖𝗼𝗻𝗰𝗲𝗿𝗻𝘀 While the Ghibli effect captivates many, it also raises important questions: 𝗣𝗿𝗶𝘃𝗮𝗰𝘆 𝗜𝘀𝘀𝘂𝗲𝘀: Experts warn that sharing personal photos with AI tools can compromise user privacy. Once uploaded, these photos can be used to train AI models, potentially leading to unauthorized use or data breaches. 𝗘𝘁𝗵𝗶𝗰𝗮𝗹 𝗖𝗼𝗻𝗰𝗲𝗿𝗻𝘀: The use of AI to generate art has sparked debates about the ethical implications, including the potential impact on the livelihoods of traditional artists and animators. 𝗠𝗶𝘆𝗮𝘇𝗮𝗸𝗶'𝘀 𝗗𝗶𝘀𝗮𝗽𝗽𝗿𝗼𝘃𝗮𝗹: Hayao Miyazaki himself has expressed strong disapproval of AI in animation, calling it "an insult to life itself" and stating that he would never incorporate such technology into his work. Despite these concerns, the Ghibli effect continues to blend the magic of Studio Ghibli's art with modern AI technology, captivating people. Alongside the Ghibli effect, we've seen Barbie-inspired "dollbox" selfies, showcasing the creative potential of AI but also raising significant questions about the control and ownership of famous artistic styles. 𝗟𝗲𝗴𝗮𝗹 𝗮𝗻𝗱 𝗘𝘁𝗵𝗶𝗰𝗮𝗹 𝗜𝗺𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻𝘀 In Japan, lawmakers are debating whether AI-generated art that replicates Ghibli's unique style should be prohibited, highlighting the complexities of intellectual property in the age of AI. Similarly, Mattel, the company behind Barbie, is vigilant in protecting its trademarks and has a history of taking legal action against unauthorized uses of its iconic doll's image. The U.S. Copyright Office has weighed in, stating that AI-created images cannot be copyrighted unless a human adds creative input. This ongoing debate is further complicated by legal cases such as Getty Images suing Stability AI for using over 12 million licensed photos without permission. 𝗧𝗵𝗲 𝗙𝘂𝘁𝘂𝗿𝗲 𝗼𝗳 𝗔𝗜 𝗮𝗻𝗱 𝗔𝗿𝘁 Being informed about copyright laws, trademark protections, and potential legal disputes is essential to ensure that their creations are both innovative and legally compliant. 𝘞𝘢𝘵𝘤𝘩 𝘮𝘺 𝘱𝘳𝘦𝘷𝘪𝘰𝘶𝘴 𝘊𝘰𝘱𝘺𝘳𝘪𝘨𝘩𝘵 𝘝𝘪𝘥𝘦𝘰 𝘢𝘵 𝘩𝘵𝘵𝘱𝘴://𝘸𝘸𝘸.𝘭𝘪𝘯𝘬𝘦𝘥𝘪𝘯.𝘤𝘰𝘮/𝘧𝘦𝘦𝘥/𝘶𝘱𝘥𝘢𝘵𝘦/𝘶𝘳𝘯:𝘭𝘪:𝘢𝘤𝘵𝘪𝘷𝘪𝘵𝘺:7280825227889004544/?𝘰𝘳𝘪𝘨𝘪𝘯𝘛𝘳𝘢𝘤𝘬𝘪𝘯𝘨𝘐𝘥=𝘮𝘦𝘫𝘒𝘡𝘮87𝘙𝘬𝘒%2𝘍7𝘵0𝘺𝘔1𝘡𝘏𝘌𝘘%3𝘋%3𝘋
The Magic Behind the Ghibli Effect
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