Khoshaim & Associates Advises on the Largest M&A Transaction in Saudi Arabian History

K&A advised the Saudi Arabian Basic Industries Corporation (SABIC) in relation to the acquisition by the Saudi Arabian Oil Company (Saudi Aramco) of 70% of its shares from the Public Investment Fund (PIF), a landmark transaction worth USD 69.1 billion.

The transaction was structured as a private sale transaction under the Capital Market Authority’s Merger & Acquisitions Regulations, and required complex advisory work on a multitude of issues which included capital markets, corporate, competition, finance, and litigation.

The K&A team was led by managing partner, Zeyad Khoshaim, and supported by M&A Counsel Leen Zaza, associate Arwa AlFawzan, and Trainee Associate Ghaida Meaigel. The team also included advice from Projects & Finance partner, Karim Wali, Dispute Resolution Counsel Nasser AlRubayyi, associates Ghadah AlOtaibi and Hussain AlShammasi.

Zeyad Khoshaim commented “This landmark transaction cements our position as the go-to firm in Saudi Arabia for complex M&A work. I am truly proud of our team whose work shows that our strategy of building on-the-ground capabilities ensures the best possible service to our clients.”

This historic acquisition comes side-to-side with K&A acting for the Saudi International Petrochemical Company (Sipchem) in its business merger with Sahara Petrochemicals Company, another notable transaction in the public market in Saudi Arabia worth approximately USD 4 billion. 

K&A recently became the only Saudi Arabian law firm to be ranked as Band 1 in all practice areas ranked by Chambers Global, and as Tier 1 in all practice areas ranked by IFLR 1000.


IFLR 1000 Rankings (2019)

K&A was ranked Tier 1 in ALL practice areas for the IFLR 1000 2019 awards. IFLR 1000 is the guide to the world’s leading financial law firms and lawyers. We were specifically ranked Tier 1 in Banking, Capital Markets, M&A, Project Development and Project Finance.

We are extremely proud of the team for working so hard during the year on extraordinary projects and transactions that resulted in success and this amazing accomplishment.

https://www.iflr1000.com/Jurisdiction/Rankings?id=213#rankings


K&A wins Saudi Arabia Deal of The Year

K&A is proud to be the winner of two awards from Islamic Finance News: the Saudi Arabia Deal of The Year and the Real Estate Deal of The Year.

The Saudi Arabia Deal of The Year and Real Estate Deal of The Year relate to the SAR 11 Billion sukuk program to be issued by Saudi Real Estate Refinance Company (SRC). K&A represented HSBC Saudi Arabia, the arranger for this huge transaction, alongside its cooperation firm, Allen & Overy.

We are very proud of the Capital Markets team for working tirelessly on this transaction and are honored to have been chosen. Thank you to the IFN Awards team for this recognition.

 


K&A advises on the establishment of Saudi Real Estate Refinance Company’s domestic sukuk programme

 


Khoshaim & Associates (K&A) together with its cooperation firm Allen & Overy (A&O), have advised HSBC Saudi Arabia as sole arranger on the establishment of a SAR 11 billion domestic sukuk issuance program for Saudi Real Estate Refinance Company (SRC).

The team advising HSBC Saudi Arabia on the establishment of the programme was led by K&A’s managing partner Zeyad Khoshaim, supported by associate Ghadah AlOtaibi and A&O capital markets partner Bilal Ahmad, supported by associate Nick Halewood.

Zeyad Khoshaim, commented, “This was a strategically important transaction for SRC – the establishment of its first capital markets financing platform; the programme gives SRC an efficient platform to raise Saudi Riyal denominated funding.”

This transaction comes with K&A being awarded “The Real Estate Deal of The Year” and “Saudi Arabia Deal of The Year” by the Islamic Finance News awards based on this deal.

We are very proud of the Capital Markets team for working tirelessly on this transaction and are honored to have HSBC Saudi Arabia choose K&A as legal counsel.