Saudi Arabia, November 2020

Legal Advisors Abdulaziz Alajlan & Partners advised Dallah Healthcare Company (DHC) in relation to the sale and purchase of shares equal to 54.56% of Care Shield Holding Company (CSHC) (the Shares) from Kingdom Investment Development Company (KIDC) (by way of a share swap and cash consideration).

On 15 May 2020, DHC and KIDC signed a Share Swap Agreement, in accordance with which DHC agreed to acquire the Shares in consideration for which DHC will allot treasury shares and pay a cash consideration amount to KIDC with a total value of SAR 300 million (the Transaction). The Transaction completed on 15 November 2020 and was formally announced on 16 November 2020.

In addition, DHC agreed to acquire additional shares in CSHC from Abdulrahman Bin Ibrahim Abu Hemid and Sons for Trade and Investment and Engineer Adel Abd AlMohsin Abd Alwahab AlMandeel taking its total shareholding in CSHC to 58.64%.

The team was led by Karim Nassar, David Monnier and Stephanie Samuell. This transaction is another example of Legal Advisors' position working on high profile M&A transactions within the Kingdom having renewed once again our rankings in Chambers, Legal 500 and IFLR as a tier 1 firm in Saudi Arabia for corporate transactions.