K&A Advises on Accelerated Bookbuild Transaction on Tadawul

K&A has successfully advised NatWest Markets plc (NWM) and Banco Santander S.A. (Santander) in connection with their USD682.58 million disposal of Tadawul-listed shares in the Saudi British Bank (SABB) by way of an accelerated bookbuild, representing 5.6% of SABB issued share capital.

This transaction is the second of two recent and accelerated bookbuilds pursuant to which NWM and Santander have now sold down their entire shareholding in SABB. K&A advised on the first accelerated bookbuild of approximately 1.5% of SABB’s issued share capital owned by NWM and Santander.

Goldman Sachs International (GSI) and Citigroup Global Markets Limited (Citi) acted as joint bookrunners and their Saudi Arabian entities acted as executing brokers.

The K&A team was led by Managing Partner Zeyad Khoshaim, Counsel Amro Bakhaidar, Associates Mohammad AlMania, Associate Ghaida Meaigel and Trainee Associate Yazeed Alsayari.

This transaction comes on the heels of K&A having been named Saudi Arabian Law Firm of the Year by IFLR Middle East Awards, winning Equity Deal of the Year, and Domestic Deal of Year.