Saudi-based Retail enablement company Zid has raised USD50 million in Series B funding round (~188 million SAR). The round was led by IMPACT46 with participation from investors including Aramco venture capital arm (Waed Ventures) and Endeavour Catalyst, Global Ventures, Elm Company, Arzan and MSA. The proceeds will be used by Zid to expand into new […]
Clyde & Co partner Loukas Mistelis (pictured) has been appointed as a member to the newly-established Saudi Center for Commercial Arbitration (“SCCA”) Court. The SCCA has established the independent court to determine administrative matters and
Deal & transactions
Energy & Trading
Saudi Arabia
APICORP signs a USD75m Islamic facility for Voluntary Carbon Offsets
The Arab Petroleum Investments Corporation (“APICORP”), an energy-focused multilateral development financial institution, has signed a USD75 million Murabaha agreement in favour of Hartree Partners Power & Gas Company (UK), an affiliate of global energy and
Deal & transactions
Saudi Arabia
TMT
Linklaters advises Zain Saudi Arabia on the sale of telecoms towers
Zain Saudi Arabia (“Zain KSA”) has successfully completed the sale and leaseback of its entire portfolio of 8,069 telecoms towers in Saudi Arabia to investors led by the Public Investment Fund of Saudi Arabia (“PIF”). The
Appointments
Saudi Arabia
United Arab Emirates
Latham & Watkins worldwide promotions include MENA members
Latham & Watkins has announced that 44 associates have been elected to the partnership and another 46 associates have been promoted to the role of counsel, effective January 1, 2023. Riyadh based Noor Al-Fawzan (pictured right) was elected to
Banking & Finance
Capital Markets
Saudi Arabia
Saudi Real Estate Refinance Co. issues SAR3 B guaranteed sukuk
Saudi Real Estate Refinance Company (“SRC”), the wholly-owned Public Investment Fund of the Kingdom of Saudi Arabia, has increased its programme limit from SAR 10 billion to SAR 20 billion and issuance of SAR 3 billion (USD798 million)
Deal & transactions
Energy & Trading
Saudi Arabia
Aramco and Schlumberger’s sustainability solutions digital platform
Aramco, Saudi’s global integrated energy and chemicals company, and international technology company Schlumberger have announced plans to collaborate and develop a digital platform that will provide sustainability solutions for hard-to-abate industrial sectors. The proposed
Deal & transactions
Oil & Gas
Saudi Arabia
United Arab Emirates
TAQA acquires Al Mansoori Petroleum Services. The advisors
Industrialization and Energy Services Company (“TAQA”) and the shareholders of Al Mansoori Petroleum Services LLC (“AMPS”) have announced today that they have entered into a definitive agreement for TAQA to acquire 100% of AMPS, expanding TAQA’
EKP’s associated office in Riyadh, Khulaif AlEnezee Legal Counsel Company (“Al-Enezee”), has appointed Jeffrey Greene as a new partner to the firm’s corporate practice group, effective 1 September 2022. Greene is a seasoned transactional lawyer
Banking & Finance
Corporate
Saudi Arabia
Bank Albilad’s Enjaz Payment Services Company now incorporated
Bank Albilad, a Saudi joint stock company, headquartered in Riyadh, has successfully carve out of its remittance business, Enjaz, into a new payment services company. The new company has been licensed by the Saudi
