Norton Rose Fulbright represents Anghami in combination with OSN+

Global law firm Norton Rose Fulbright represented Anghami Inc. (NASDAQ: ANGH) (Anghami), MENA’s first and leading music streaming platform, in its combination with OSN+ , the region’s leading streaming platform for premium video content.

The transaction closed on April 1, 2024 with OSN Group acquiring 55.45 percent of Anghami, giving it a majority stake at a valuation of $3.69 per share, 1.9x the closing price of the stock on March 28, 2024. The combined entity boasts more than 120 million registered users and 2.5 million paying subscribers with close to US$100 million in revenue at closing.

The deal is anticipated to transform the MENA media and entertainment landscape, combining Anghami’s catalog of more than 100 million songs and licensed content from leading Arabic labels, independent artists and global distributors with OSN+’s exclusive and extensive library of video content.

Norton Rose Fulbright’s cross-office team was led by Global Head of Corporate, M&A and Securities Ayşe Yüksel Mahfoud  (New York) and Blake Redwine  and included George Khoukaz  (Dallas).