K&A successfully advised Taiba Investments Company, its capacity as offeror, on its share exchange transaction with Dur Hospitality Company. The deal closed after the shareholders of both companies approved the transaction, creating one of the leading hospitality companies in Saudi Arabia.
This is the first public M&A transaction involving a full acquisition of a real estate and hospitality company, a sector that is becoming increasingly vital in the Saudi economy; especially with the recent Saudi Arabian win to host both World Expo 2030 and World Cup 2034.
K&A assisted Taiba on all aspects of the SAR 3 billion transaction, including structuring, drafting, negotiating, diligence, competition, and capital markets regulatory matters.
The team was led by managing partner Zeyad Khoshaim and senior associate Ghaida Meaigel, with support from counsel Khalid Alyafi, Paul Matrosov, senior associate Naryman Alkassimi, associate Meshal Alkolaika and Saud Aldriss
This cements K&A’s stand as the leading public M&A firm in Saudi Arabia, having been involved in most complex public and private M&A transactions in the market to date, including the recent Rajhi Steel share exchange transaction involving Saudi Iron & Steel Company (Hadeed), SIIG/Petrochem share exchange, the SAMBA/NCB merger, the SABB/Alawwal merger, and the Sipchem/Sahara share exchange.
This also comes on the back of recent string of successes at the IFLR Middle East Awards 2023, which includes being named "Saudi Arabian Law Firm of the Year" and receiving other awards such as "Project Finance Deal of the Year" and the "Equity Deal of the Year."