K&A advised Taiba Investments Company on its share exchange transaction with Dur Hospitality Company, becoming the first such transaction involving two listed real estate and hospitality companies.
K&A assisted Taiba on all aspects of the SAR 3 billion transaction, including structuring, drafting, negotiating, diligence, and capital markets regulatory matters. The milestone reached so far is the signing of a binding agreement to implement the transaction, whereby Taiba will make an offer to acquire all of Dur’s shares in consideration for newly issued Taiba shares. The transaction is still subject to regulatory and shareholders’ approvals, which K&A continues to assist on.
The team was led by managing partner Zeyad Khoshaim and associate Ghaida Meaigel, with support from Associates Modi Alnafea and Abdullah Alshakrah.
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 SIIG/Petrochem share exchange, the SAMBA/NCB merger, and the Sipchem/Sahara share exchange.
This also comes on the back of K&A being named as Saudi Arabian Independent Law Firm of the Year by Chambers Global.