Saudi Arabia

IFLR1000 Reviews

Financial and corporate
Alsaleh & Alsahli

Al Saleh & Al Sahli is a boutique Saudi law firm. The firm was formed in 2014 and is based in Riyadh.

 

Focusses / specialisms

Within the financial and corporate domain, the firm is primarily active in equity capital markets, investment funds and restructuring and insolvency.

 

Key clients

Key clients include Albaha investment & development company, Saudi Azm for Communication and Information Technology Company, Naseej International Trading Company, Batic Investments and Logistics Company, Alkhaleej Training and Education Company, Burgerizzr, Raydan Food Company, Banan Real Estate Company, Gulf General Insurance Company, L'Azurde Jewelry Company and Chemanol.

 

Research period review: 32nd edition (2021/2022)

During the research cycle the firm was involved on the issuer side of rights and IPOs in the equity capital markets space for clients connected with the financial services, technology and communications, consumer goods and services, real estate and insurance sectors.  

 

Deal highlights: 32nd edition (2021/2022)

Albaha investment and development company €39.9 million rights issue

Banan real estate company €53.2 million IPO

Batic Investments and Logistics Company €79.9 million Rights issue

Burgerizzr €31.9 million IPO

Hammad & Al-Mehdar

Saudi law firm Hammad & Al-Mehdar was founded in 1983. Today besides its headquarters in Jeddah, the firm runs an office in Abu Dhabi.

 

Focusses / specialisms

The firm’s main strengths are in banking, private equity and M&A deals.

In M&A, apart from working on significant transactions in the Kingdom, the firm regularly advises on inbound transactions initiated by foreign entities.

 

Key clients  

Key clients include ADES International Holding PLC / Innovative Energy Holding, IHC Holding PJSC and TasHeel Holding Group, Azentio Software, ADES International Holding, Azentio Software, Mohammed Said Fakhry Company, OIG, Desert Technologies, Al-Jebreen LLC, Valaris plc, Partners for Growth, Pure Harvest Smart Farms, Tarabut Gateway, SVC, Al Rubaiyat, Al Nahdi Group, Al Hejailan Group, Siemens Energy,

  

Research period review: 32nd edition (2021/2022)

Activity in the financing space involved advising on a venture debt financing transaction.

In M&A the team acted on both the buy and sell side of acquisitions and investments in Saudi Arabia. The team was active in the joint ventures, financial investment, restructuring and Chapter 11 related to US Bankruptcy Code for clients connected with the energy, entertainment, technology and communications and real estate sectors.

During the research period finance associate Reina El-Ali joined the firm from BSA Ahmad Bin Hezeem & Associates.

During the research period corporate and commercial associates Jada Okur and Yazeed Alijuhani joined the firm from Alem & Associates and Al-Suraihi & Abu Nijem Law Firm respectively.  

 

Deal highlights: 32nd edition (2021/2022)

ADES International Holding PLC / Innovative Energy Holding €516 million private acquisition

IHC Holding PJSC and TasHeel Holding Group €81 million private acquisition

Mohammed Said Fakhry Company €320 million divestment with UAE purchaser

Valaris plc €7.1 billion Chapter 11 – US Bankruptcy Code energy deal

Khoshaim & Associates

Since its establishment in 2012, Khoshaim & Associates has come to be recognised as one of the leading law firms in Saudi Arabia. The firm has offices in both Riyadh and Jeddah.

 

Focusses / specialisms

The firm has a similarly strong offering across several financial and corporate areas.

In the banking space the firm is known for its experience in supporting sponsor-side mandates across project finance, Islamic finance and banking regulatory advisory.

The firm’s capital markets practice is well-rounded, capable of supporting a range of financing structures including IPOs, rights issues, secondary offerings, private placements and sukuk.

Within M&A the firm has capabilities to support complex, high-cap joint ventures, corporate restructurings, public and private M&A transactions.

The firm is also visible on many of the Kingdom’s largest projects. It provides comprehensive legal support to projects across a myriad of sectors.

 

Key clients

Key clients include Saudi Aramco, The Saudi National Bank, Banque Saudi Fransi, Riyad Bank, Arab National Bank, The Saudi British Bank and the Public Investment Fund (PIF), HSBC Saudi Arabia, Rabigh Refining & Petrochemical Company, Saudi Real Estate Company, Riyad Capital, Saudi Aramco, Araba National Ban, NEOM, Al Balad Development Company, Sanabil, Saudi Arabian Ministry of Health, Vision Invest, the Public Investment Fund,

 

Research period review: 32nd edition (2021/2022)

During the research period the firm was active in banking, both debt and equity capital markets, M&A, project development and project finance deals.

In banking the firm was active in refinancing, banking and financing deals on the borrower and lenders side for clients connected with the banking and energy sectors.

The capital markets team was active in debt and equity. On the debt side the team advised a mix of banks and issuers on large sukuk programmes and issues. The firm’s equity capital markets engagements included IPO and rights issue work.

In M&A the firm was active on the buy and the sell side, including financial investment, public and private acquisitions, joint ventures and financial investments representing clients connected with the oil and gas, technology and telecommunications, and construction sectors.

In project development the firm worked in landmark projects engagements, among others, include advising on the financing of Red Sea Gate Terminal and assisting the Saudi Arabian Ministry of Health on a large radiology services PPP project.

In project finance the firm continued to maintain a dominant position in the Saudi finance market, advising marquee clients, such as Banque Saudi Fransi, Riyad Bank, The Saudi British Bank and The Saudi National Bank on some of the most prominent project development and financing projects.

 

Deal highlights: 32nd edition (2021/2022)

Banque Saudi Fransi and Riyad Bank refinancing deal for the acquisition of JESCO

Banque Saudi Fransi, Riyad Bank, The Saudi British Bank and The Saudi National Bank €3.7 billion financing for Phase One of the Red Sea Project in Saudi Arabia

Hassana Investment Company €21.3 million IPO of Jahez International company

Samba Financial Group €15.3 billion merger with the National Commercial Bank

Saudi Aramco joint venture with Raytheon in cybersecurity

Tatweer Buildings Company PPP on Wave 2

 

Client feedback: 32nd edition (2021/2022)

 

M&A                                                                                       

"Deep knowledge and excellent networking with the authorities; experienced and professional staff; very helpful and cooperative. "

"Proactive, willing to take on as much responsibility for a deal as a client wishes."

"Responsive and prompt. Willing to drive deals forward, taking as much responsibility as we wish for them to take."

 

Zeyad Khoshaim       

"Excellent in all of the advisory and legal services he provided."

"Great lawyer; great leader of a legal team. "

"Great leader. Zeyad has gathered bright, hardworking lawyers into his team."

Abdulaziz Alajlan & Partners - Legal Advisors

Legal Advisors Abdulaziz I Al-Ajlan & Partners is a Saudi Law firm established in 1998 and based in Riyadh and Jeddah. The firm advises clients through an association with multinational law firm Baker McKenzie.

 

Focuses / specialisms

In the financial and corporate sphere, the firm has a market leading offering across the board.

Its banking team advises sponsors and companies, as well as private equity funds, banks and other financial institutions across all types of loan work, with transactions ranging from short- term unsecured facilities to global banking facilities involving multi-jurisdictional collateral.

In capital markets the firm is particularly well recognised for its equity capital markets work, where it has worked on some of the high-profile IPOs, rights issuances and private placements in the Kingdom.

In M&A the firm’s offering is, similarly, among the market’s best, with strong track record of advising buyers and sellers on cutting-edge transactions.

The projects team supports all aspects of landmark projects in Saudi Arabia. It is regularly seen on large-scale developments in the PPP, transport and infrastructure, water and waste-water, power, petrochemicals, energy and manufacturing space.

 

Key clients

Key clients include Red Sea Gate Terminal, SICO Bank of Bahrain, Stryker Corporation, Dallah Healthcare Company, General Authority for Competition, Navantia, Shell Saudi Arabia Refining Limited, Arabian Centres Company, Citigroup Saudi Arabia, JP Morgan, GIB Capital, Samba Capital & Investment Management Company, Saudi Fransi Capital, NCB Capital, The Ministry of Finance, Saudi Arabia, Al Rahji Bank, Saudi Arabian Mining Company (Ma'aden), Samba Financial Group / Samba Capital, Saudi Binladin Group Company Limited and The National Commercial Bank.

 

Client feedback: 31st edition (2020/2021)

Bank lending : Lender side

"Constructive, innovative, responsive and knowledgeable."

 

Banking and finance

"Responsive, pragmatic, client-oriented."

"The team is overall highly professional, hard-working and capable, with excellent work quality, attention to detail and prompt response times. They also have on-the-ground presence with lawyers in both Jeddah and Riyadh, so they are always easily accessible and available in our two main locations. This makes our dealings easier, instead of arranging travel from other locations, particularly under the current circumstances. "

 

Capital markets : Equity

"Exceptional and unmatched services, accommodating the client at the priority basis, highly professional and experienced team. An assessment of the key team members is below. Karim Nassar: Wealth of experience. Offered support and critical advice at key moments during the assignment and stepped in to steer the ship whenever needed. No major weakness. George Marshall: Fast, diligent and responsible. Results-oriented and provided solutions at all roadblocks. No major weakness. Robert Eastwood: Has good communication skills and experience. Led the junior team responsibly in completing most of the accompanying legal assignments in the run-up to the IPO. Jad Slim: Was the main architect of prospectus, took a leading role in setting and meeting deadlines and filing with the CMA. Worked long hours to ensure that everything is as. His experience with the CMA was very handy for the transaction. Can be a bit too careful with things so took more time, however, his approach is always positive."

 

Financial services regulatory

"The law firm was very responsive as well as providing very well-structured and organised legal advice. "

 

M&A

"Solving legal issues while keeping the right balance with business interest. Proactive engagement to solve problems. Availability and quick turnaround."

 

Project finance

"In-depth knowledge and experience in project finance transaction in Saudi Arabia."

 

Restructuring : Corporate

"Provide accurate legal advice - set strategy and plan for way forward - implement."

Abuhimed Alsheikh Alhagbani Law Firm

Abuhimed Alsheikh Alhagbani Law Firmis a Saudi Arabian law firm is led by managing partner Dr Fahad Abuhimed and is based in Riyadh 

 

Focusses / specialisms 

The firm has achieved top tier status in banking, debt and equity capital markets, M&A, project development and project finance. 

 

Key clients 

Key clients of the firm include Qiddiya Investment Company, The Red Sea Development Company, Amaala, Saudi Electricity Company, HSBC Saudi Arabia, Public Investment Fund, The Saudi British Bank, Baker Hughes, Jadwa Investment, Jeddah Central Development Company and Saudi National Bank. 

 

 

Al Farraj Law Firm in cooperation with Alem & Associates

Alem & Associates (the regional partner of Al Farraj Law Firm) is a regional law firm with offices in Dubai, Abu Dhabi, Beirut and Riyadh. 

 

Focusses / specialisms 

The firm specialises in equity capital markets, private equity and project development work. The firm has track record of advising Saudi Arabia’s leading capital markets institutions on structuring of diverse types of investment funds. 

 

Key clients 

Key clients include ANB Invest, Albilad Capital, Al Rajhi Capital, Al Khabeer Capital, Blom Invest, Qatar Islamic Bank, Booz Allen Hamilton, Binladin International Group, Saudi Arabian General Investment Authority, Bahamdan Group, Abdullah Ibrahim AlSubaie Group and Al Jazirah Vehicles Agencies Company. 

 

Client feedback: 32nd edition (2021/2022) 

Banking and finance 

They are very thorough in their analysis. They are commercially minded and solution oriented. Very efficient and very responsive and they have very deep knowledge of Saudi laws and regulations.” 

 

M&A 

In-depth analysis of the transaction, deep understanding of local and international M&A, ability to accommodate the client terms.” 

Al Tamimi & Company

Formed in 1989 Al Tamimi & Co is a Dubai headquartered law firm with a strong position in several MENA countries. In Saudi Arabia the firm operates offices in Riyadh, Jeddah and Al Khobar.

 

Focuses / specialisms

Areas of activity for the firm’s banking and finance team in recent past have included project finance, regulatory work and work around security creation and standardisation of banking and security documents.

 

Key clients

Key recent clients include ACWA Power, SBC Saudi Arabia (Agent Bank), The Saudi British Bank (SABB) and The Saudi British Bank.

Bin Afif Law Firm

Established in 2015, Bin Afif Law Firm is a leading Saudi law firm based in Jeddah.

 

Focuses / Specialisms

Banking and finance is the core focus area for the firm, where it is among the most rapidly growing law firms in the country. The firm is seen on both the buy and sell side with a client list spanning well-known names in the Kingdom and beyond.

 

Key clients

The firm’s key clients features such names as Riyadh Bank, Public Pension Agency, SGS Saudi Geological Survey, Jeddah Chamber of Commerce and Industry, Tatweer Company for Educational Services, Kuwait Airways Comp, Bupa Arabia Insurance Company, Sunbulah Group, Bin-Shihon Group of Companies, Abdul Jawad Trading Group, ARCOMA Group of Companies, MSQ Property, Citroen International Cars Compan, Abboud Abubakr Baeshen & His partner Company, Waad Holding Company, Al Khairat Trading Company, Saudi Colors and Food Enhancers Factory, PSS Consortium Group, Mitsui & Co, JAPAN- Zebra Technolog and GSE & C.

 

Client feedback: 31st edition (2020/2021)

Banking and finance

"The firm is experienced and fully aware about our needs. They are available all the time - when we need them they attend us and respond very quickly."

 

Derayah

Formerly Hatem Abbas Ghazzawi & Co, Derayahis a Saudi law firm based in Jeddah. It was established in 2000. 

 

Focusses / specialisms 

The firm has a wide coverage of financial and corporate work, maintaining an active position in most areas in Saudi Arabia. 

In banking, the firm focuses predominantly on large, cross-border project financing transactions. 

In capital markets, it assists international and Saudi blue-chip clients and is active in both debt and equity. 

M&A is among the firm’s strong areas, the team often representing overseas companies doing business in Saudi Arabia. 

The projects team is similarly strong and visible in the market and advises on significant undertakings in various sectors. 

 

Key clients 

Key clients include Saudi British Bank, Abu Dhabi Commercial Bank, Banque Saudi Fransi, National Commercial Bank, Dow Chemical Company, F. Hoffmann-La Roche, Ferrero and Varian Medical Systems International. 

 

Client feedback: 32nd edition (2021/2022) 

M&A 

“Demonstrate good understanding of the transaction and structured the legal document around it.” 

 

Project finance 

Derayah is prompt, thorough and reliable. Their advice is detailed, to the point and constructive. They work to resolve issues.”

Dr Sultan Almasoud & Partners in association with Shearman & Sterling

Shearman & Sterling is a multinational law firm with about 23 office locations around the world. The firm has advised clients in the Middle East for more than 40 years and has a presence in Riyadh through an association with The Law Firm of Dr. Sultan Almasoud. 

 

Focusses / specialisms 

In banking, the firm advises on all aspects of deal financing transactions, with project finance being a distinct area of strength and focus for the firm. 

The firm has an active capital markets team, whose expertise spans both debt and equity. The team provides high-profile clients with advice across the kingdom’s main hubs, with an impressive body of work spanning Saudi IPOs, rights issues, private placements, employee share option plans and CMA regulations. 

Its corporate team offers advice on M&A, private equity, joint ventures and corporate reorganisations to regional and international investors across a range of sectors. 

 

Key clients 

NEOM Company, Dow Chemical Company, ACWA Power, SMBC, K-EXIM, Islamic Development Bank, Engie, Wafra Investment, National Commercial Bank, Amaala, Dussur, Tabuk Agriculture Development Company (TADCO), Jabal Omar Development Company, Bin Dayel Group, NOMW Capital, Alsalam Aerospace Industries Company, Five Capital Partners, The Saudi Arabian Industrial Investments Company (Dussur), National Unified Procurement Company, Saudi Investment Recycling Company and NEOM Company. 

Squire Patton Boggs in Affiliation with Khalid Al-Thebity Law Firm

The international law firm Squire Patton Boggshas more than 50 years of experience in the Middle East. In Saudi Arabia, the firm advises clients via a partnership with Khalid Al-Thebity Law Firm. 

 

Focusses / specialisms 

The firm works on the full array of banking practice in Saudi Arabia, including corporate, acquisition and structured Islamic bank financings, corporate and sovereign Islamic bond issuances and project financings. 

In M&A, the firm is often seen on transactions in Saudi Arabia and the broader MENA region. The team has multisectoral expertise covering petrochemicals, diversified industrials, financial services, retail, telecoms and technology, transport and infrastructure, healthcare and life sciences, hospitality and food and drink. 

 

Key clients 

The firm often advises E& group (Etisalat), FAST consortium,Government of Saudi Arabia including The Royal Court, Ministries of Foreign Affairs, Defence, Interior, Finance, Health, Human Resources & Social Development, Ministry of Communications and Information Technology, King Saud University, Saudi Arabian Monetary Authority, Capital Markets Authority, Higher Education Fund and King Faisal Specialist Hospital & Research Centre. 

The Law Firm of Salah Al-Hejailan

“Magic Circle” firm Freshfields Bruckhaus Deringer is present in about 17 jurisdictions around the world, including multiple offices in the Middle East. In Saudi Arabia it advises clients through an association withThe Law Firm of Salah Al-Hejailan. 

 

Focusses / specialisms 

The firm’s capital markets practice is often selected by both issuers and banks to advise on large transactions, including leading IPOs in Saudi Arabia. The firm also has a strong capital markets regulatory practice advising some of the key regulators and international banks active in the kingdom. 

The firm’s M&A practice regularly supports significant work relating to Saudi Arabia’s Vision 2030 framework. The team does work for financial and private equity investors, as well as government investment vehicles. 

 

Key clients 

Key clients include Morgan Stanley Saudi Arabia, Dr. Sulaiman Al-Habib Medical Services Group Company, Deutsche Securities Saudi Arabia, Jada Funds of Funds Company, Saudi Venture Capital Company, State Street Bank and Trust Company, JP Morgan Saudi Arabia, Merrill Lynch Kingdom of Saudi Arabia, Public Investment Fund (PIF), Red Sea Gateway Terminal and ACWA Power. 

 

Client feedback: 32nd edition (2021/2022) 

Private equity 

“Timely, knowledgeable, creative.” 

The Law Firm of Wael A Alissa in association with Dentons

Dentons is one of the world’s largest law firms with offices in more than 200 locations across 80 countries. The firm operates from its Jeddah and Riyadh offices in Saudi Arabia, where it advises on both international and Saudi Arabian law in association with The Law Firm of Wael A Alissa. 

 

Focusses / specialisms 

The firm provides full-service advice to clients, ranging from corporate and M&A to banking and finance. The firm’s clientele list comprises clients across all sectors,including aviation, real estate, energy and technology. 

 

Key clients 

The firm’s notable clients include Saudi Arabian Ministry of Finance, Amazon.com (Saudi Office), Saudi Information Technology Company, The Red Sea Development Company, SATORP, Dynamic Industries Saudi Arabia, Flughafen München, The Helicopter Company, Saudi National Bank, European Bank for Reconstruction and Development, HSBC Saudi Arabia and Standard Chartered Bank 

The Law Office of Mohammad Al-Ammar

King & Spalding is a multinational corporate law firm headquartered in Atlanta, Georgia. In the Kingdom of Saudi Arabia, the firm serves clients out of Riyadh through a cooperation with The Law Office of Mohammed AlAmmar. 

 

Focusses / specialisms 

The firm has an extensive financial and corporate offering covering banking, capital markets and corporate work. 

Its banking practice often acts for various Saudi banks and supports highly structured, complex deals. Overall, the firm advises borrowers and sponsors in both conventional and Shari’ah-compliant transactions across various financing types, as well as restructuring mandates. 

The firm also covers both conventional and Islamic finance deals in the capital markets arena, where it is not uncommon to see the firm on complex, landmark mandates. 

In corporate work, the firm commands the highest share of private equity deals by volume in the market. The firm boasts superlative expertise in such areas as healthcare, fintech, privatisations, consumer goods & retail, oil &gas, education, technology, venture capital, e-commerce, real estate and hospitality. 

 

Key clients 

Key clients include Saudi Aramco Investment Management Company, Dubai Financial Services Authority, Saudi British Bank, Banque Saudi Fransi, Samba Financial Group, Arab National Bank, National Commercial Bank, Riyad Bank, Riyad Capital, Jadwa Investment Company, Islamic Development Bank, Albilad Capital, Sedco Capital, General Dynamics, Western Union, Avibras, Gleeds, Abu Dhabi Development Holding Company (ADQ), Social Development Bank, LVMH and NBK Capital.

ZH Partners in association with Hourani & Partners

Hourani & Associates is a Middle Eastern law firm with a history of over 40 years. In Saudi Arabia the firm operates out of Riyadh and provides legal services through association with ZH Partners.

 

Focuses / specialisms

The firm is active in corporate, M&A and private equity work, with experience possessed in practically all sectors of the Saudi economy.

The firm is also visible in investment funds work, where it is active in fund formation.

 

Key clients

Key clients include Coface, Delivery Hero, International Flavors & Fragrances, Lockheed Martin, Maersk, Munich RE, Nestle Group, Procter & Gamble, Thomson Reuters, Al Borg Medical Laboratories, ADNOC Distribution, Almarai Company, CCC, Dallah AlBaraka Group, McDermott International, ICD and Rezayat Group.

 

Client feedback: 31st edition (2020/2021)

Capital markets

"They are very knowledgeable in terms on local regulations and international best practices. "

 

Restructuring : Corporate

"In-depth knowledge of local environment, key stakeholders and process for incorporation of legal entity. Pragmatic advice on risks associated with acquisition and potential mitigation."