Waleed-Rasromani

Linklaters with Hassana on RAWEC stake acquisition

Linklaters advised Hassana Investment Company (HIC), the investment manager of Saudi Arabia’s social insurance and pension fund, on the strategic acquisition of a minority interest in Rabigh Arabian Water & Electricity Company (RAWEC) from ACWA Power, a private water desalination company. This strategic transaction, valued at SAR 844 million (approximately US$ 225 million), is the beginning of a long-term partnership between ACWA Power and HIC. 

On the acquisition

ACWA Power currently holds almost all (99%) of the shares in RAWEC, which was set up to build, own, and operate the Rabigh Independent Water, Steam, and Power Producer, and which plays a crucial role in providing essential utilities — electricity, steam, and water — to Rabigh Refining and Petrochemical Company.

Linklaters’ team

Saudi Arabia national managing partner Waleed Rasromani (pictured above) and corporate/M&A counsel Claire Neil (pictured right) led Linklaters cross-practice team, which also comprised energy & infrastructure counsel Jack Allen-Fitt, and associates Jordan Badenko and Dmitry Gorchakov.

benedetta.miarelli@lcpublishinggroup.com

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