Raheel Butt_ Debashis Dey

White & Case advises on SNBC’s 20% Stake Acquisition in Tamara 

Global law firm White & Case has advised SNB Capital (SNBC), a top asset management firm based in Saudi Arabia, on its recent primary and secondary equity subscription in Tamara, a prominent player in the buy-now-pay-later sector. The strategic move, exceeding US$200 million (SAR 750 million), was orchestrated through SNB Capital Fintech Fund L.P., solidifying SNBC’s position with a holding of over 20 percent in Tamara’s share capital. 

“The acquisition by SNBC allows Tamara to access the capital required to fulfil its ambitious growth plans,” said White & Case partner Debashis Dey (pictured right), who co-led the Firm’s deal team. “It also demonstrates the potential for further expansion of the buy-now-pay-later sector in the region.” 

The Series C investment round, totalling approximately US$340 million (SAR 1.3 billion), witnessed SNBC collaborating closely with Sanabil Investments to co-lead the funding initiative. 

White & Case counsel Raheel Butt (pictured left), who co-led the Firm’s deal team, said: “The success of this transaction demonstrates our stellar capabilities to advise Saudi financial institutions and funds on regulatory and transactional matters involving investments across a range of asset classes.” 

The White & Case team which advised on the transaction included partners Sonia AbdulRahman (Dubai), Debashis Dey (Dubai & London) and Tamer Nagy (Washington, DC & Cairo), counsel Raheel Butt (Dubai & Riyadh) and associates Ola Sanni, Salvia Matonyte and Ahmad Bin Dalmook (all Dubai).