Saudi Arabia

IFLR1000 Reviews

Financial and corporate
Al Saleh & Al Sahli

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 Falcom, Wasatah, AlDukheil, Samba, AlKhair, AlJazira, Alistithmar, Itqan Investment Capital and Emirates NBD KSA Capital. 

 

Research period review: 31st edition (2020/2021) 

During the research cycle the firm was involved on the issuer side of rights and share offerings in the equity capital markets space.

 

Deal highlights: 31st edition (2020/2021) 

Anaam Holding Company rights issue

Saudi Papers Manufacturing Company rights issue 

 

Client feedback: 31st edition (2020/21) 

 

Capital markets : Equity 

"They completed the work in a professional manner." 

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 and M&A. 

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 Saudi Bugshan, Abdul Latif Jameel (ALJ), Yousuf Naghi and Sons Group, Alkifah, Almajdouie Group, Mohammad Saeed Fakhri & Partners, Alsulaiman Group, Obeikan Investment Group, Al Elm Information Security Company, Saudi Venture Capital Company and Thiqah Business Services Company.

  

Research period review: 31st edition (2020/2021) 

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 Saudi FinTech and private equity space.

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. The firm is Allen & Overy’s Saudi sponsor.

 

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, Samba Financial Group, Banque Saudi Fransi, Riyad Bank, Arab National Bank, Al Rajhi Bank, Tatweer Buildings Company, Saudi Arabian Ministry of Health, Ministry of Finance  NEOM, Vision Invest , Sahara International Petrochemical Company, Kingdom Holding Company, Hassana and General Organization for Social Insurance (GOSI), Saudi Basic Industries, Prysmian Group, ENEOS Corporation, Capital Markets Authority (CMA), NatWEest Markets, HSBC Saudi Arabia, Emaar Economic City, Riyad Capital, and Kingdom Investment Development Company (KIDC).

 

Research period review: 31st edition (2020/2021)

In banking the firm was active in borrower and lenders side work on large project financing, corporate financing and refinancing mandates.

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.

The firm continued to maintain a dominant position in the Saudi M&A market, advising marquee clients, such as Saudi Aramco, on some of the most prominent acquisitions, mergers and joint venture transactions.

Landmark projects engagements, among others, include advising on the financing of Red Sea Gate Terminal and assisting the Saudi Arabian Ministry of Education on a large school PPP project.

 

Deal highlights: 31st edition (2020/2021)

KIDC sale and purchase of shares in Care Shield

Ministry of Finance of the Kingdom Saudi Arabian $5 billion bond programme

NatWest Markets and Banco Santander $882 million share disposal

Red Sea Gate Terminal

Riyad Bank SAR10 billion sukuk programme and issue

Samba/NCB merger

Saudi Aramco/Saudi Arabian Industrial Investments/Hyundai Heavy Industries joint venture

Saudi school PPP

Saudi Aramco/Baker Hughes joint venture

Zain KSA SAR7 billion financial restructuring

 

Client feedback: 31st edition (2020/21)

 

Bank lending : Lender side 

"Constructive, responsive, solution-oriented. Knowledgeable." 

 

Capital markets 

"High-quality work product; know the KSA market very well; very responsive; meet deadlines, etc." 

 

Capital markets : Equity 

"Khoshaim knows KSA very well. They are the most knowledgeable firm on KSA corporate and securities work. They also provide good work quality and they meet deadlines." 

 

M&A 

"Khoshaim is efficient with their time and rapid in their responses. They are very commercial in their approach to getting a deal done." 

"Very well-researched advice taking into account different applicable laws/ jurisdictions. The team is very responsive and the senior partner's involvement is always informative and insightful." 

 

Project development 

"Good work. Good knowledge base." 

 

Fadi Daher 

"Team work and knowledge of the law. They provide constructive solutions." 

 

Karim Wali 

"Constructive; responsive; solution oriented; helpful; knowledgeable." 

 

Zeyad Khoshaim 

"Knowledgeable; experienced; good work quality; responsive - an all around great lawyer." 

"Strong work ethic. Good work product. Delivers. Knows the local market and practice very well." 

"Zeyad is available when I need him. I know that I can count on him to provide reasoned legal advice and I view him as a trusted partner." 

"Smart; on the ball; eloquent; accessible; strong experience in certain areas. Deep knowledge in the intricacies of Saudi law." 

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, Derayah is a Saudi law firm based in Jeddah. It was established in 2000.

 

Focuses / 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 The Saudi British Bank, Abu Dhabi Commercial Bank, Banque Saudi Fransi, National Commercial Bank, The Dow Chemical Company, F. Hoffman La Roche, Ferrero, and Varian Medical Systems International.

 

Client feedback: 31st edition (2020/2021)

Project finance

"The team has been great to work with. They are professional, enthusiastic and switched on. They have anticipated adverse events and prepared well to mitigate them. Despite Covid, they were able to keep on original schedule. The team's strengths are attention to detail, planning, and straightforward communication."

Dr Sultan Almasoud & Partners in association with Shearman & Sterling

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

 

Focuses / 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, The 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), The National Unified Procurement Company, Saudi Investment Recycling Company and NEOM Company.

Legal Advisors Abdulaziz I Al-Ajlan & Partners

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."

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

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

 

Focuses / Specialisms

The firm works on the full array of banking work 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 the 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, The 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 17 jurisdictions around the world including multiple offices in the Middle East. In Saudi Arabia it advises clients through an association with The Law Firm of Salah Al-Hejailan.

 

Focuses / 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, J.P. Morgan Saudi Arabia and Merrill Lynch Kingdom Saudi Arabia, Public Investment Fund (PIF), Red Sea Gateway Terminal and ACWA Power.

 

Client feedback: 31st edition (2020/2021)

M&A

"They were partner-led and responsive, providing excellent, clear and considered advice. They communicated well and I always felt that the partner leading the matter was well informed of issues, even where he perhaps was not the one managing it on a daily basis."

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, through a cooperation with The Law Office of Mohammed AlAmmar, serves clients out of Riyadh.

 

Focuses / 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 both 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, privatizations, consumer goods & retail, oil and gas, education, technology, venture capital, e-commerce, and real estate and hospitality.

 

Key clients

Key clients include The Saudi British Bank, Banque Saudi Fransi, Samba Financial Group, Arab National Bank, The National Commercial Bank, Riyad Bank, Riyad Capital, Jadwa Investment Company, Islamic Development Bank, Al Bilad Capital, SEDCO Capital, General Dynamics, Western Union, Avibras, Gleeds, Abu Dhabi Development Holding Company (ADQ), Social Development Bank, LVMH and NBK Capital.

ZH 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."