Clyde & Co on Cenomi’ SAR 219 million franchise right sale

Clyde & Co advised Cenomi Retail, a Saudi listed company and retail brand partner, on the SAR 219 million sale of its franchise rights (and related assets) for five brands (Aldo, Aldo Accessories, La Vie En Rose, Pedro and Charles & Keith) to Abdullah Al-Othaim Fashion Company (a fully owned subsidiary of Abdullah Al-Othaim Investment Company).

The transaction complements a transaction completed earlier in Q1 of 2024 with fashion company Abdulla Al-Othaim, which involved the sale of franchise rights (and related assets) for 16 brands by Cenomi Retail, which Clyde & Co advised as sell-side adviser.

Clyde & Co’s team

Clyde & Co acted as lead counsel to Cenomi Retail. Corporate partner Chadi Salloum (pictured right), corporate legal director Amun Bashir and corporate trainee Urmika Mani led Clyde & Co’s cross-practice and cross-jurisdictional team.

Employement partner Sara Khoja, corporate senior associates Abdulaziz Alharthy and Majed Alzaben and employement associates Elodie Chalhoub and Jassar Aljohani further supported the team.