After months of complex advice and assistance, K&A successfully assisted SABIC in completing what is the largest acquisition in Saudi Arabian history.
Saudi Aramco announced the successful completion of its share acquisition of a 70% stake in Saudi Basic Industries Corporation (SABIC) for a total purchase price of SAR 259.125 billion (US$ 69.1 billion).
K&A’s work on the transaction solidifies our M&A and Capital Markets capabilities, and our continued advice in connection with M&A transactions in the petrochemicals industry. Just last year, K&A closed the Saudi International Petrochemical Company, (SIPCHEM), in relation to its share swap public acquisition with Sahara Petrochemicals Company, (Sahara), another landmark transaction in Saudi Arabia.
This transaction comes on the heels of K&A being named M&A Law Firm of the year by IFN and dominating the Legal 500 rankings.