K&A Advises NADEC on its Landmark PPP Acquisition

K&A is pleased to have assisted the National Agricultural Development Company (“NADEC”) in relation to its signing of the definitive agreements in connection with the acquisition of the Second Milling Company that was offered for privatization by the Saudi Grains Organization (“SAGO”) alongside other consortium members.

As part of its role, K&A advised NADEC on the definitive agreements regarding the ownership, management, commercial business and operation of the Second Milling Company.

The K&A team was led by Partner Leen Zaza, and supported by Managing Partner Zeyad Khoshaim, Counsel Hamdan van den Brule and associate Dana Aldhuwaihi.

This transaction comes after K&A being named Saudi Arabian Corporate Law Firm of the Year 2021 by Chambers Middle East 2021, and further cements K&A’s position as one of the leading law firms in the market for M&A.


K&A advises on landmark Green Financing

K&A assisted Saudi Electricity Company (SEC) on a USD500 million green financing facility signed with Japan Bank for International Cooperation (JBIC). This is the first untied green facility for SEC and it will support renewable interconnection, reliability and energy efficiency projects in transmission and distribution networks. The transaction fits directly in line with SEC’s goals to pursue green financing opportunities, implementing investments with clear environmental and social benefits.

The K&A team was led by Partner Karim Wali and supported by Managing Partner Zeyad Khoshaim and Senior Associate Naryman Alkassimi and Associate Saud Alqahtani.

This transaction solidifies K&A’s tier one finance practice, and comes on the back of K&A winning Thomson Reuters’s Saudi Arabian Law Firm of the Year, and IFLR’s National Law Firm of the Year.


K&A Advises on ACWA Power’s 2.8 Billion Sukuk Issuance

K&A has advised HSBC Saudi Arabia and Samba Capital Investment & Management Company in relation to ACWA Power’s sukuk issuance.

The transaction marks the lowest spread by any corporate or bank issuer in Saudi Arabian capital markets since 2017 where ACWA Power’s raised of SAR 2.8 billion, through a senior, unsecured floating Sukuk rate issuance with a 7-year tenor, under the Shariah compliant Mudaraba-Murabaha structure.

The K&A team was led by Managing Partner Zeyad Khoshaim and assisted by Counsel Amro Bakhaidar, Associate Mohammad Almania, Associate Ghaida Meaigel, Associate Yazeed Alsayyari.

This transaction follows K&A winning Thomson Reuters’s Saudi Arabian Law Firm of the Year, IFLR’s National Law Firm of the Year, and Chambers Corporate Law Firm of the Year.


K&A Partner Leen Zaza named as Saudi Arabia’s Woman Leader by IFLR1000

 

K&A is delighted to announce that Partner Leen Zaza has been named as a Woman Leader by IFLR 1000. Ms. Zaza is the only lawyer to be ranked on this prestigious list for Saudi Arabia.

The IFLR 1000 Women Leaders recognizes “the most prominent female lawyers” in the world who are described as having “outstanding reputations within their markets” and “expertise and experience of working on complex deals”, and who have “risen to hold leadership roles within their firms of their practices”.

Ms. Zaza’s practice includes leading on Private M&A and JV corporate transactions, most recently advising NADEC on its successful bid to acquire the Second Milling Company that was offered for privatization by the Saudi Grains Organization.


K&A Advises Winning Bidder in SAGO Privatization Transaction

K&A advised the National Agricultural Development Company (“NADEC”) in relation to its successful joint bid to acquire the Second Milling Company that was offered for privatization by the Saudi Grains Organization (“SAGO”). This transaction is part of one of the largest targeted sectors for privatization under the Kingdom’s Vision 2030.

As part of its role, K&A advised NADEC on the definitive agreements regarding the ownership, management, commercial business and operation of the Second Milling Company.

This transaction showcases K&A’s role as the premier PPP adviser for both government-side and investor-side roles, and its leading role for complex M&A transactions.

This transaction comes at the same time that K&A is named as the Saudi Arabian Corporate Law Firm of the Year by Chambers Middle East Awards 2021 as announced here.


K&A named Saudi Arabian Corporate Law Firm of the Year by Chambers Middle East Awards 2021

K&A is pleased to have been named Saudi Arabian Corporate & Commercial Law Firm of the Year by Chambers Middle East Awards 2021.

K&A was described as a firm that is “regularly seen advising on some of Saudi Arabia’s most significant and high-value transactions”.

Managing Partner, Zeyad Khoshaim, was also described as “consistently cited as one of the market’s most impressive lawyers”.

K&A was also the only Saudi Arabian law firm nominated for all award categories for Saudi Arabia.

This award follows K&A impressive streak in winning Thomson Reuters’s prestigious Saudi Arabian Law Firm of the Year, IFLR’s National Law Firm of the Year, and IFN’s M&A Team of the Year, all further solidifying K&A’s position as Saudi Arabia’s leading law firm.

K&A named Saudi Arabian Law Firm of the Year by Thomson Reuters Middle East Law Awards


For more information, please reach out to our press and business development team at BD@khoshaim.com.

 


K&A Successfully Brings Largest Bank Merger in KSA History to Legal Completion

K&A, having advised Samba Financial Group on its merger with the National Commercial Bank (NCB), is pleased to announce the legal completion of the merger. Saudi National Bank (SNB), as the surviving entity has now been renamed, is now the largest bank in Saudi Arabia.

K&A’s role on the transaction involved structuring, negotiating, and drafting all transaction documents and public circulars on behalf of Samba. K&A also represented Samba when dealings with regulators, including the CMA, GAC, SAMA, and MOC. All of K&A’s tier 1 practices worked on this historic transaction, including the M&A, competition, capital markets, banking, and disputes teams.

This deal continues K&A strong track record in successful M&A deals in Saudi Arabia, after having had roles in Saudi Aramco’s acquisition of 70% stake in SABIC, SIPCHEM’s share swap with Sahara, and the SABB/Alwwal merger.

The closing of this deal also coincides with K&A being named the Saudi Arabian Law Firm of the year by Thomson Reuters, and National Law Firm for Saudi Arabia by the IFLR.

K&A named Saudi Arabian Law Firm of the Year by Thomson Reuters Middle East Law Awards

K&A Named Saudi Arabian Law Firm of the Year


K&A named Saudi Arabian Law Firm of the Year by Thomson Reuters Middle East Law Awards

K&A is honored to announce that it was named Saudi Arabian Law Firm of the Year by Thomson Reuters’s Middle East Law Awards.

Thomson Reuters also awarded K&A “Equity Market Deal of the Year” for its work on Saudi Aramco’s IPO.

Managing Partner, Zeyad Khoshaim, commented: “K&A is delighted to have been recognized by a prestigious body such as Thomson Reuters.  I would like to sincerely thank K&A’s amazing team for getting us this far! This recognition validates our strategy of having on-the-ground execution capabilities in an independent law firm. K&A’s focus on growing its practices – Corporate/M&A, Capital Markets, Finance and Projects, Dispute Resolution, and Regulatory – is paying off.”

This award also follows K&A having received IFLR’s prestigious Saudi Arabian Law Firm of the Year award in 2020.

K&A Named Saudi Arabian Law Firm of the Year


K&A Ranked Tier 1 in 2021 Chambers & Partners Global

K&A became the only independent Saudi Arabian law firm to be ranked in core Saudi Arabian practice areas for the Chambers & Partners Global 2021 rankings.

K&A maintained its Tier 1 rankings in Banking and Finance, Capital Markets and Commercial & Corporate. K&A has also received tribute from clients with one client saying that “Khoshaim & Associates is, in my view, the best Saudi-based firm for complex local matters.”

K&A also has the honor of having its lawyers being ranked, with Managing Partner, Zeyad Khoshaim, ranked in three practice areas: Commercial/Corporate, Capital Markets and Dispute Resolution, with a client commenting “He’s an excellent lawyer and he’s one of the best if not the best lawyer in the Saudi market”.

Other K&A lawyers ranked include the “solution-oriented” Karim Wali, ranked in Banking & Finance, the “brilliant” Leen Zaza, named for Corporate/Commercial, and the “Sharia-knowledgeable” Nasser Alrubayyi, named for Dispute Resolution, with clients commenting on the K&A team that they are “among the top players in the market.”

Congratulations to the K&A Team and hope we get to celebrate these accolades together soon.


K&A joins Qimam Fellowship

K&A is pleased to announce its work with Qimam Fellowship. Qimam is coalition of over thirty leading national and international companies and 300+ senior leaders from the public and private sector that aims to identify, develop, and empower the most promising and distinguished university students in and from Saudi Arabia to achieve their full potential.

This relationship reaffirms K&A’s commitment to elevating the practice of law in Saudi Arabia and equip our future lawyers with the mentorship and guidance needed to make an impact and contribute to our society.  For more information see: https://www.qimam.com/en/

K&A’s own Graduate Student Program recently brought in a number of high caliber law and humanities graduates, and continued to expand the team with a number of hires and promotions. For more information, see: https://www.khoshaim.com/careers/


K&A Contributes to the Islamic Finance and Markets Law Review

 

K&A contributed the Islamic Finance chapter for Saudi Arabia in the fifth edition of Islamic Finance and Markets Law Review.

 

Leading Partner Karim Wali commented “K&A’s work in Islamic Finance in Saudi Arabia, within the context of bilateral and syndicated financings, and in the context of project finance and sukuk is unparalleled. We are pleased to have had the opportunity to work with the Islamic Finance and Markets Law Review to contribute this article and elucidate some of these complex issues.”

 

This article is published on the heels of K&A being named KSA Law Firm of the Year by the IFLR.

 


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.


K&A Advises on Landmark Vision 2030 Industrial Project

K&A successfully advised Saudi Aramco on its 50/50 joint venture with energy technology firm Baker Hughes to establish an industrial project that will develop a broad range of non-metallic products for multiple applications in the energy sector. The newly formed joint venture will be named Novel.

Novel’s new plant will be constructed at King Salman Energy Park (SPARK) in the Eastern Province of the Kingdom. The JV aligns with Saudi Arabia’s efforts to expand its commercial ecosystem and promote domestic investment, in alignment with Saudi Arabia’s Vision 2030.

The K&A team was led by Managing Partner Zeyad Khoshaim, Corporate Partner Leen Zaza, Projects & Finance Counsel Hamdan van den Brule, and supported by associates Ghadah AlOtaibi, Dana AlDhuwaihi, Omar AlHarbi, and Hawa Aba-AlKhail.

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.


K&A Advises on Groundbreaking PPP Project

K&A successfully advised Tatweer Buildings Company (TBC), a company owned by the PIF, on the structuring, negotiation, and execution of the relevant project documents, including the Project Agreement, of Wave 1 of the Schools Infrastructure Development Public Private Partnership Program. The project is designed to expand the existing education facilities in the Kingdom of Saudi Arabia and respond to the increasing demand for education services and is a crucial part of the wider initiative to achieve the Vision 2030 of the Kingdom of Saudi Arabia. Wave 1 of the Program involves the design, build, financing and maintenance of 60 schools and associated facilities in the cities of Jeddah and Makkah.

Other government stakeholders involved in this project include Ministry of Finance (MOF) of Kingdom of Saudi Arabia and National Centre for Privatization (NCP).

The team working on this project was led by Managing Partner Zeyad Khoshaim, Projects & Finance Partner Karim Wali, Projects & Finance Counsel Hamdan van den Brule, associate Ghadah AlOtaibi, and associate Omar Alqazlan, and worked with colleagues at HSBC, Allen & Overy, and AECOM.

This transaction recognizes K&A’s on-the-ground PPP expertise and its deep bench. It 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.


K&A Named Saudi Arabian Law Firm of the Year

K&A is honored to have received IFLR’s prestigious Saudi Arabian Law Firm of the Year award.

This recognition validates K&A’s strategy of having on-the-ground execution capabilities in an independent KSA law firm. All of K&A’s tier 1 practices – Corporate/M&A, Capital Markets, Finance and Projects, Dispute Resolution, and Regulatory & Public Policy – have contributed to this success.

Managing Partner, Zeyad Khoshaim, commented: “To the K&A legal and support teams: you are the heart of K&A and this award goes to you! Thank you to every member of the team, past and present, who helped us get here. The way we work, the noble goal we have to elevate the practice of law, and our dedication to excellence is unique to us. These are the reasons that I am proud to call myself a member of this team.”

K&A also won Domestic Deal of the Year for their role on the Saudi Aramco / SABIC acquisition, and Equity Deal of the Year for their role on the Saudi Aramco IPO.

Congratulations to K&A!


K&A Advises on Largest Bank Merger in KSA History

K&A advised Samba Financial Group on the signing of its merger agreement with National Commercial Bank. The merger aims to create a regional powerhouse with SAR 837 billion (U.S.$ 223 billion) in assets, uniquely positioned to accelerate the transformation of Saudi Arabia’s banking landscape and deliver progress towards Vision 2030.

This landmark transaction cements K&A’s role as the leading KSA firm for complex M&A transactions. K&A has worked on every premier public or private M&A deal, on sell and buy-side, whether on a competitive or bilateral basis. From the Sipchem/Sahara share swap, to the SABB/AlAwwal merger, to the Saudi Aramco/SABIC acquisition, K&A has been at the forefront of complex M&A work in KSA.

Our role for Samba utilized all of our tier 1 practice areas, including M&A, capital markets, corporate, competition, finance, and dispute resolution.

This transaction comes at the same time as K&A dominated the IFLR award nominations as announced here.

Managing Partner, Zeyad Khoshaim, commented, “I am very proud of our team for having structured, negotiated, and documented this complex deal in an efficient manner and expedited timeline. It validates our strategy of having on-the-ground execution capabilities to execute deals of this complexity”.

Many thanks goes out to Counsel Amro Bakhaidar, associates Mohammad Almania, Ghaida Meaigel, and trainee associate Yazeed Alsayari for their lead role on the transaction, and to Partners Karim Wali and Leen Zaza for their assistance.

#capitalmarkets #banking #mergersandacquisitions #samba #ncb #KSA #law #saudiarabia #vision2030


K&A Advises on the Kingdom’s first Green Sukuk

K&A is pleased to have acted as issuer’s counsel to Saudi Electricity Company (SEC) on its debut green sukuk. The USD 1.3 billion sukuk generated significant investor interest and received orders of more than $5 billion.

This is K&A’s fourth sukuk issuance this year after having worked on SABB’s USD 5 billion international and SAR 5 billion local Sukuk program as counsel to the Dealers and Riyad Bank’s USD 3 billion international Sukuk program earlier this year as issuer’s counsel, which cements K&A as a debt capital markets leader in the Kingdom.

This announcement comes on the back of K&A dominating the IFLR award nominations last week.

Congratulations to SEC and the team.

SEC Announcement


K&A Advises on Accelerated Bookbuild Sale in SABB

K&A advised NatWest Markets plc and Banco Santander S.A. in connection with their USD200 million disposal of shares in Saudi British Bank by way of an accelerated bookbuild.

This transaction comes on the back of K&A advising on the AlAwwal/SABB merger last year on the behalf of the major shareholders in AlAwwal, and the second ABB transaction K&A is involved with after Savola’s.

The transaction involved K&A’s tier 1 capital markets and corporate practices.


K&A Dominates IFLR Award Nominations

K&A is honored to announce that it has been nominated for five awards as part of the prestigious IFLR Middle East Awards.

K&A received the nod for National Law Firm of the Year and Equity Team of the Year, in addition to its role on the following mega deals:

  1. The Saudi Aramco / SABIC M&A transaction
  2. The Saudi Aramco IPO
  3. The Riyad Bank Tier 2 issuance

Managing Partner, Zeyad Khoshaim, commented: “We are delighted to have been nominated for National Law Firm of the Year. We appreciate IFRL’s recognition of our practice and team. The number and categories of our nominations reflects the depth and breadth of our practice areas. I am proud to be working amongst the best team of lawyers in KSA.”

These nominations come following K&A recently receiving the prestigious status of becoming the only Saudi Arabian law firm to have been ranked as band 1 by leading law firms ranking journal “Legal 500” in Capital Markets, Banking and Finance, Commercial, Corporate and M&A, and Dispute Resolution.

 

https://www.linkedin.com/feed/update/urn:li:activity:6709790574985134080


Basma Khashoggi Joins K&A as Counsel

K&A is pleased to announce the addition of Basma Khashoggi, as Counsel, to its Tier 1 Corporate and Regulatory Practices.

Basma is both a Saudi Arabian and New York qualified senior lawyer who has significant experience in a wide range of corporate transactions and regulatory matters.

For corporate transactions, Basma’s experience includes joint ventures, mergers and acquisitions, corporate governance, restructuring, and franchising.  In addition to representing a wide-range of international and local clients, Basma has built sector-specific expertise in advising and working on transactions within the healthcare industry including pharmaceuticals, medical devices and biopharama, retail and e-commerce as well as hospitality and leisure.

For regulatory matters, Basma worked with a number of regulatory authorities in the Kingdom to draft legislation and drive legal reform.

Basma will continue the expansion of the firm’s presence across the Kingdom and will reside in K&A’s newly opened Jeddah office.

Managing Partner, Zeyad Khoshaim, commented: “We are delighted that a veteran internationally trained lawyer such as Basma has joined us. In K&A, she has found a home to grow the strongest Saudi Arabian firm with on-the-ground capabilities. With her broad experience and her specialized insights, her contribution will ensure that K&A’s clients are well served.”

This hiring comes on the back of K&A continuing to be ranked as tier 1 and band 1 by all major ranking journals: Chambers Global, IFLR 1000, and Legal 500, and has recently secured the engagement to a landmark merger in the Kingdom.[:]