Kirkland & Ellis with TKE on Alat’s investment and JV
Kirkland & Ellis advised vertical transportation and urban mobility specialist TK Elevator (TKE) and its majority shareholders on an investment performed by Alat, a PIF company and directed to the TKE Group. Moreover, the international legal firm represented TKE in the formation of a EUR160 million joint venture.
The deal
Pursuant to the transaction, Alat purchases a 15% stake in TKE, turning into a shareholder of the company and a member of the investor consortium. Moreover , TKE led a joint venture with the goal of bringing mobility products, solutions, and manufacturing capabilities to Saudi Arabia and the broader EMEA region, relying on support by a local product development center.
Closing for both transaction is expected to happen by the end of the third quarter of 2025, being subject to customary approvals.
The team
The cross-office Kirkland & Ellis team handling the matter on behalf of TKE included transactional lawyers Noor Al-Fawzan (pictured), Benjamin Leyendecker, Philip Goj, Sebastian Pitz, Dan Clarke, Christina Albath, Chiara Schmid, Noura Abdulrahman and Saud AlArifi, antitrust & competition lawyers Matthew Sinclair-Thomson and Thomas McGrath, capital markets lawyer Antoine Lebienvenu, debt finance lawyers Christopher Shield and Thomas Raftery, tax lawyers Michael Ehret and Florian Schütte as well as technology & IP transactions lawyers Emma Flett, Ben Zeris and Calum Parfitt.
