Dewey & LeBoeuf, Linklaters and Freshfields have advised on the US$843m acquisition of Kingdom Hotel Investments, by Kingdom Holding Company, which is owned by the Saudi royal family. KHC already owned 46% and bought out the remaining stake in this acquisition for US$370m.
Before it became Dewey & LeBoeuf through a 2007 merger, Dewey had acted for Kingdom Hotel Investments, the target on this transaction, advising on its landmark IPO which was the first listing on the Dubai International Financial Exchange. Now it’s on the other side acting for the vendor, with London-partner Camille Abousleiman leading the Dewey team alongside M&A partner Simon Briggs. The firm has also previously advised KHC – in 2007 Riyadh partner Khalid A Al-Thebity provided advice to the company on its bid for a GSM license.
Acting for Kingdom Hotel Investments was Linklaters – which does not have a physical Saudi presence – through its Dubai and London offices with partners Nick Garland and Jeremy Parr working cross office. Freshfields provided legal advice to the financial advisors Citigroup and Deutsche Bank.
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