Tahweel acquires Target from Tasnee: the advisors

Dentons has advised KSA-based industrial investment and operational company Tahweel on its agreement to acquire Al Rowad Industrial Transformation Company (Target) and its subsidiaries from National Industrialization Company (Tasnee), for a total value of approximately SAR 700 million.

In connection with the deal, King & Spalding (K&S) represented Tasnee, with Trussbridge serving as financial adviser to the selling part. Deloitte acted as financial adviser to Tahweel.

With the investment, Tahweel further expands its position in the downstream manufacturing and conversion industries in the Kingdom of Saudi Arabia. Completion of the transaction remains subject to relevant regulatory approvals.

The Dentons team

Partner Ziad Saad (pictured) led the Dentons team advising on the transaction, working alongside senior associate Mohamad Al Rifai (Riyadh) and consultant Joelle Salem.