Wynn Segall Quoted in The Deal on M&A Activity in Iran and Cuba Following Easing of Sanctions
Akin Gump international trade partner Wynn Segall has been quoted by The Deal in the article “Iran and Cuba are only partly back in play,” discussing the easing of U.S. sanctions against those two countries and the impact it may have on global M&A activity.
The article reports that the relaxed sanctions are expected to generate much greater interest among U.S. companies for doing deals with Iranian or Cuban entities. It might also make them more willing to carry out mergers with European or other non-U.S. companies already doing business in Iran or Cuba.
Segall and others at Akin Gump are working with companies in the energy and retail industries as well as with large private equity firms to identify opportunities created by the new landscape. He said the big question confronting would-be buyers is whether they will be able to find banking services to support their deals. Since U.S. financial institutions will continue to be barred from clearing U.S. dollar transactions, Segall pointed out, that “effectively precludes dollarized transactions.” As a result, buyers will need to look outside the United States to line up financing for a deal involving an Iranian or Cuban company.