Legal DealFolio - Acquisition of Shares in Savola Foods Company

Clifford Chance, in cooperation with Al-Jadaan & Partners Law Firm, is advising Savola Group (Savola) on its acquisition of shares in Savola Foods Company (SFC) and Azizia Panda United Company (APU) from Al Muhaidib Holding Company (Al Muhaidib). Savola is one of the largest industrial companies in Saudi Arabia and, subject to the satisfaction of certain conditions precedent including obtaining the requisite shareholder approvals, plans to increase its capital and issue 33,980,684 new shares to Al Muhaidib in consideration for the acquisition of the shares in SFC and APU currently owned by Al Muhaidib. As a result of the transaction, SFC will become a wholly-owned subsidiary of Savola and Savola will increase its shareholding in APU to 93%. The transaction was signed on 1 May 2013 and values the shares to be acquired in SFC and APU at approximately SAR1.3 billion (equal to approximately US$365 million). Clifford Chance and Al-Jadaan have been advising Savola on all aspects of the transaction, including the acquisition agreement, structuring options and on the application of the various CMA regulations. Mike Taylor, Corporate/ECM partner at Clifford Chance, comments: "We were delighted to have been involved in such a strategic transaction for Savola, one of our key regional clients. It helps to reinforce Clifford Chance's long-term connection with Saudi Arabia and our broader strategy for ambitious growth across the Middle East." The team was led by Clifford Chance partner Mike Taylor. Mike was supported by Corporate partner James McCarthy and senior associate Mohammad Al Rasheed. The Al-Jadaan team was led by Corporate partner Khalid Al Abdulkareem with support from associate Majid Al-Sheikh.

Deal Date:	22-05-2013	Practice Area:	Corporate and M&A
Deal Title:	Acquisition of Shares in Savola Foods Company	Industry:	Food Producers
Description:	Clifford Chance, in cooperation with Al-Jadaan & Partners Law Firm, is advising Savola Group (Savola) on its acquisition of shares in Savola Foods Company (SFC) and Azizia Panda United Company (APU) from Al Muhaidib Holding Company (Al Muhaidib). Savola is one of the largest industrial companies in Saudi Arabia and, subject to the satisfaction of certain conditions precedent including obtaining the requisite shareholder approvals, plans to increase its capital and issue 33,980,684 new shares to Al Muhaidib in consideration for the acquisition of the shares in SFC and APU currently owned by Al Muhaidib. As a result of the transaction, SFC will become a wholly-owned subsidiary of Savola and Savola will increase its shareholding in APU to 93%. The transaction was signed on 1 May 2013 and values the shares to be acquired in SFC and APU at approximately SAR1.3 billion (equal to approximately US$365 million). Clifford Chance and Al-Jadaan have been advising Savola on all aspects of the transaction, including the acquisition agreement, structuring options and on the application of the various CMA regulations. Mike Taylor, Corporate/ECM partner at Clifford Chance, comments: "We were delighted to have been involved in such a strategic transaction for Savola, one of our key regional clients. It helps to reinforce Clifford Chance's long-term connection with Saudi Arabia and our broader strategy for ambitious growth across the Middle East." The team was led by Clifford Chance partner Mike Taylor. Mike was supported by Corporate partner James McCarthy and senior associate Mohammad Al Rasheed. The Al-Jadaan team was led by Corporate partner Khalid Al Abdulkareem with support from associate Majid Al-Sheikh.
Financial Center:	Dubai	Value:	0.00-0.00
Advised Party:	Acquiror	Law Firm	Clifford Chance
Target Company Jurisdiction:	Saudi Arabia	Acquiror Jurisdiction:	Saudi Arabia
Classification:	Strategic Buyer Acquisitions Private Company	Lawyer	Mike Taylor

Practice Areas -

Corporate and M&A Law Firms and Lawyers

Practice Areas - Corporate and M&A Law Firms and Lawyers