Allen & Overy advises clients on matters relating to the Kingdom of Saudi Arabia through its cooperation with Khoshaim & Associates.
Khoshaim & Associates is a boutique Saudi law firm with international reach, that works seamlessly with A&O's offices around the world to deliver first class, efficient, and integrated legal services.
Khoshaim & Associates includes a team of veteran Saudi and internationally qualified lawyers who advise on a wide range of practice areas, including debt and equity capital markets, local and cross-border M&A, corporate, projects, banking, and Islamic finance transactions. The team has an unparalleled understanding of the Saudi Arabian commercial landscape, legal framework and cultural issues, and routinely handles all aspects of sophisticated transactions and litigation.
Khoshaim & Associates is the law office of Zeyad S. Khoshaim, a sole proprietorship licensed to practice in Saudi Arabia under Ministry of Justice license number (29/90), registered with the Chamber of Commerce under registration number (253904), and operates from the 17th Floor, Tower B, Olaya Towers, Olaya District, Post Office Box 230667, Riyadh, Post Code 11321, Kingdom of Saudi Arabia.
Corporate and M&A
Levant Capital on a joint USD100m acquisition with Citi Venture Capital International of a controlling stake in Al-Raya For Foodstuff Company Limited, a leading supermarket chain in Saudi Arabia.
21st Century Fox in connection with its acquisition of exsisting shares and subscription for new shares in Moby Group Holdings Limited and on its first USD70m and subsquent USD35m investment in Rotana Group, the Middle East Media Group owned by HRH Prince Alwaleed Bin Talal.
Al-Futtaim Auto & Machinery Co (FAMCO), the Al-Futtaim Group's distributor of commercial vehicles and industrial equipment, on the acquisition of 100% shareholding of Al-Rehab Equipment & Machinery Company in Saudi Arabia, the exclusive distributor for Volvo Construction Equipment in the Kingdom.
Morgan Stanley Saudi Arabia as financial adviser to Almarai on the Almari's USD253.2m (Dh930m) cash and stock bid for Hail Agricultural Development Company (Hadco). This was a groundbreaking deal for the region, being the first takeover involving Saudi listed companies.
BAE Systems on a USD750m Shari'a-compliant sale and leaseback programme in Saudi Arabia financed through investment funds.
Saudi Aramco on the establishment of a SAR37.5 billion domestic sukuk issuance programme for Saudi Aramco and its debut issuance of SAR11.25 billion sukuk due 2024 thereunder.
Sadara sukuk, we advised AlBilad Investment Company, Alinma Investment Company, Deutsche Securities Saudi Arabia LLC, and Riyadh Capital on the issuance of a SAR7.5bn Saudi Arabian public sukuk.
Savola sukuk programme – we advised HSBC Saudi Arabia Limited as arranger and dealer in connection with the establishment of a SAR5bn sukuk issuance programme by The Savola Group and a SAR1.5bn issuance of the programme.
National Medical Care Company on its USD97.2m IPO on the Saudi Stock Exchange (Tadawul).
ACWA Power on a private placement of new issue primary equity shares to Sanabil and Saudi PPA.
GACA sukuk – we advised HSBC Saudi Arabia Limited as sole lead manager in connection with the SAR15bn sukuk issue by the General Authority of Civil Aviation (GACA), guaranteed by the Ministry of Finance of Saudi Arabia. This was the largest sukuk issue in Saudi Arabia and the first sovereign sukuk in Saudi Arabia.
Almarai sukuk Program - Second Tranche and Third Tranche – we advised NCB Capital as manager of the second and third tranche issuances totalling SAR1.3 billion for Almarai under its sukuk programme.
Saudi Electricity Company sukuk - we advised Saudi Electricity Company on its debut 144A USD2bn sukuk issuance and previously advised on its debut Reg S issuance and an accompanying private placement.
Saudi International Petrochemical Company sukuk – SAR1.8bn Mudaraba sukuk due 2016. Deutsche Securities and Riyad Capital acted as Joint Lead Managers and Joint Bookrunners. The sukuk was offered to the public in the Kingdom and, accordingly, was approved on that basis by the CMA. In this connection, this sukuk was the first to be approved by the CMA following changes to its listing rule process.
Jubail Refinery and Petrochemical Project – we advised Saudi Aramco Total Refining and Petrochemical Company (SATORP), a joint venture company established by Saudi Aramco and Total, on the USD14.2bn project which entails the development of a greenfield refining and petrochemical plant in Saudi Arabia. The financing involved 19 different facilities with seven export credit agencies and two different Islamic facilities (an istisna’a-ijara and a wakala-ijara) and the total debt raised was approximately USD8.5bn.
A syndicate of eleven Saudi and international banks in respect of a SAR9bn murabaha financing for Ma'aden.
Saudi Hollandi Bank, Qatar Islamic Bank and Bank Muscat on a SAR405m financing for Huta Marine.
Jabal Omar Development Company on a SAR5bn procurement and ijara facility to finance the development of its project in the Holy City of Makkah and a SAR1.5bn Bridge facility.
Saudi Aramco Lubricating Oil Refining Company on a SAR2bn murabaha facility with Riyad bank.
The lenders (HSBC Saudi Arabia Limited, Riyadh Bank, National Commercial Bank and Saudi Hollandi Bank) in relation to the development of an ethylene vinyl acetate and low density polyethylene production facility in Jubail, Kingdom of Saudi Arabia. The financing of this project involves a syndicated Islamic loan facility and further funding from PIF and SIDF. This project was sponsored by Sipchem and Hanwha Chemical Corporation.
King Abdullah Economic City – the original landowners on the structure and documentation for the project, the terms of the land disposal and shareholding in the project company. The project comprises the construction of a new sea port, hotels, golf course, financial and industrial districts, university and residential developments. At the heart of the development will be a financial and international business centre and free zone surrounded by luxury houses, including seaside villas. Our involvement encompasses utilities, regulatory, finance and real estate-related advice, including standard form leases, development agreements and the services and management structure.
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We are at the top end of the market – as evidenced by advising on all ground-breaking ‘big-ticket’ deals across the UAE and wider Middle East.
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