Page 43 - SAMENA Trends - June-August 2021

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

Simmons & Simmons Hires Investment Funds Partner in Luxembourg

International law firm Simmons & Simmons announced
that Pieter Leguit will join the investment funds practice
in Luxembourg as a partner on 1 July. Pieter’s practice
focuses on acting as lead counsel to fund managers in
the formation of alternate investment funds, in particular
private equity and real estate funds. Pieter also regularly
represents institutional investors in the assessment
and negotiation of their fund investments. Pieter joins
Simmons from Loyens & Loeff, where he has been an
investment funds partner in the firm’s Luxembourg office
since 2019. Pieter's notable experience includes his
involvement in the restructuring of several real estate
funds. Not only has he advised managers in effecting
the mergers of their funds and procuring consent from
investors worldwide, he has also represented limited
partner groups and advisory boards in negotiating the funds offering in the region. With his expertise in private fund formation
restructuring terms with managers. Pieter will join the and private equity and real estate funds, Pieter’s experience will further
Luxembourg funds team, which is headed by Augustin diversify the services offered by both the local and international Simmons
de Longeaux. His hire follows the arrival of tax partner funds teams.”. On joining Simmons, Pieter commented: “The investment
Julie Carbiener at the firm’s Luxembourg office in May, funds business is very much a cross-border affair, and I am convinced
demonstrating Simmons’ commitment to expanding that clients will benefit greatly from the combined expertise that the strong
its presence in the region. Commenting on Pieter’s investment funds practices of the various Simmons offices throughout
arrival, Luxembourg country head Louis-Maël Cogis Europe and beyond have to offer”.
said: “Pieter’s practice complements Simmons’ existing

Saudi Arabia Customers Benefit from 5G
Investment with 50% Increase in Speed

SpeedChecker, the mobile crowdsourcing
company released a new report on the
performance of mobile networks in Saudi Arabia.
This report is part of an ongoing commitment
from SpeedChecker to benchmark true user
experience. The SpeedChecker report has been
compiled using data from 81,923 unique mobile
devices performing 92,832 tests in 1 week in
June 2021. Our results and comparison with
our last report in December 2020 show that
stc customers have enjoyed a 57% increase in
speeds with 44% for Mobily and Zain customers.
This sees stc stretch its lead slightly over Mobily
whilst Zain falls further back. Zain is most
competitive in the NW of the country. Customers
switching to 5G should see speeds increase by
2 to 3 times. This is reflected in Riyadh being
the capital city with the 6th fastest 5G network
and Saudi Arabia being in the top 10 countries
for 5G speeds. This is thanks to 5G expansion in
the region such as the stc Group expanding 5G
coverage in Mecca and Zain also expanding 5G
coverage.

43 JUN-AUG 2021